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2024 legislation

Each year the Legislature introduces legislation that affects CalSTRS, its members, or their beneficiaries. Below is a listing of legislation for which the Teachers' Retirement Board has taken a position. Listings of CalSTRS legislation include the bill number, authors, CalSTRS' bill analyses, bill summary, the board's official position and the bill's status in the Legislature.

AB 2134 (Muratsuchi) – Sick leave transfer for school employees

Requires employing entities of certificated and classified employees to honor an employee’s request to transfer leave of absence for illness or injury at any time during the employee’s employment with the subsequent employing entity. Also removes the requirement that employees who have terminated employment must accept a new covered position within the next school year to qualify for sick leave transfer. Requires unused sick leave to be transferred between employers in days, not hours, and specifies information that must be shared with the transfer. Finally, specifies these provisions apply to county offices of education and state special schools.

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AB 2770 (PE&R) – Public retirement systems housekeeping bill

Makes minor, technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the State Teachers’ Retirement Plan (plan), which includes the Defined Benefit (DB) Program, the Defined Benefit Supplement Program and the Cash Balance Benefit Program. Also makes various minor, technical and conforming changes in the County Employees Retirement Law and the law related to the Judges’ Retirement System II.

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SB 252 (Gonzalez) – Fossil fuel divestment

Prohibits the CalSTRS and CalPERS boards from making additional or new investments or renewing existing investments in a fossil fuel company, as defined, and requires divestment from such investments by July 1, 2031, unless and only until January 1, 2035, an unforeseeable event creates conditions that materially impact normal market mechanisms for pricing assets. Commencing February 1, 2025, also requires an annual report to be submitted to the Legislature and Governor with specified information. Also indemnifies present, former and future board members, officers and employees of an investment managers under contract with those retirement systems for actions related to the bill.

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