Bill Text: CA AB526 | 2017-2018 | Regular Session | Introduced

California Assembly Bill 526 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: County employees’ retirement: districts: retirement system governance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2017-07-10 - In committee: Set, first hearing. Hearing canceled at the request of author. [AB526 Detail]

Download: California-2017-AB526-Introduced.html

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill

No. 526

Introduced by Assembly Member Cooper

February 13, 2017

An act to amend Section 31459 of the Government Code, relating to county employees’ retirement.

LEGISLATIVE COUNSEL'S DIGEST

AB 526, as introduced, Cooper. County employees’ retirement.

The County Employees Retirement Law of 1937 (CERL) authorizes counties to establish retirement systems pursuant to its provisions in order to provide pension benefits to county and district employees. CERL authorizes the board of supervisors of any county in which the assets of the retirement system exceed $800,000,000 to establish a board of investments and specifies the division of certain duties between the board of investments and the retirement board.

This bill would make a nonsubstantive change to these provisions.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

Section 31459 of the Government Code is amended to read:

31459.

(a) In a county in which a board of investments has been established pursuant to Section 31520.2:

(1) As used in Sections 31453, 31453.5, 31454, 31454.1, 31454.5, 31472, 31588.1, 31589.1, 31591, 31592.3, 31594, 31595.1, 31595.9, 31596, 31596.1, 31601.1, 31607, 31611, 31616, 31625, 31784, and 31872, “board” means a board of investments.

(2) As used in the first paragraph of Section 31592.2, “board” means a board of investments.

(3) Sections 31510.4, 31522, 31523, 31524, 31525, 31528, 31529, 31529.5, 31595, 31618, 31680, and 31680.1 apply to both the board of retirement and board of investments, and as used in those sections, “board” means both “board of retirement” and “board of investments.”

(b) In Article 17 (commencing with Section 31880), “board” means the Board of Administration of the Public Employees’ Retirement System.