Bill Text: CA SB1056 | 2013-2014 | Regular Session | Introduced

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Bill Title: County employees: retirement.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-02-27 - Referred to Com. on RLS. [SB1056 Detail]

Download: California-2013-SB1056-Introduced.html

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BILL NUMBER: SB 1056	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Fuller

                        FEBRUARY 18, 2014

   An act to amend Section 31612 of the Government Code, relating to
retirement.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1056, as introduced, Fuller. County employees: retirement.
   The County Employees Retirement Law of 1937 authorizes counties
and districts to establish retirement systems for their employees.
Existing law requires an actuarial valuation of the retirement system
to be made, as specified. Existing law defines "actuarial rate" as
the interest assumption rate established by the most recent actuarial
survey recommended by the board of retirement and adopted by the
board of supervisors.
   This bill would make a nonsubstantive change to that definition.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 31612 of the Government Code is amended to
read:
   31612.  "Actuarial rate" means the interest assumption rate
established by the most recent actuarial survey  that is 
recommended by the board of retirement and adopted by the board of
supervisors.