Bill Text: CA SCR105 | 2011-2012 | Regular Session | Chaptered

---

Bill Title: State Teachers' Retirement System.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2012-09-10 - Chaptered by Secretary of State. Res. Chapter 123, Statutes of 2012. [SCR105 Detail]

Download: California-2011-SCR105-Chaptered.html

---

BILL NUMBER: SCR 105	CHAPTERED
	BILL TEXT

	RESOLUTION CHAPTER  123
	FILED WITH SECRETARY OF STATE  SEPTEMBER 10, 2012
	APPROVED BY GOVERNOR  SEPTEMBER 10, 2012
	ADOPTED IN SENATE  AUGUST 28, 2012
	ADOPTED IN ASSEMBLY  AUGUST 31, 2012

INTRODUCED BY   Senator Negrete McLeod
   (Coauthors: Assembly Members Allen and Furutani)

                        AUGUST 22, 2012

   Relative to the State Teachers' Retirement System.


	LEGISLATIVE COUNSEL'S DIGEST


   SCR 105, Negrete McLeod. State Teachers' Retirement System.
   This measure would encourage the State Teachers' Retirement System
to develop and submit to the Legislature, before February 15, 2013,
3 options that would address the long-term funding needs of the
Defined Benefit Program.
   The measure would also state the intent of the Legislature to
enact legislation to address the long-term funding needs of the
Defined Benefit Program of the State Teachers' Retirement Plan.




   WHEREAS, The Defined Benefit Program of the State Teachers'
Retirement Plan has an unfunded liability primarily as a result of
market downturns in the last 10 years and the total contributions
made by members of the Defined Benefit Program, school employers, and
the state have been insufficient since the 2001-02 fiscal year to
reduce the unfunded liability in accordance with governmental
accounting standards; and
   WHEREAS, Any change in contributions to the Defined Benefit
Program requires the enactment of legislation; now, therefore, be it
   Resolved by the Senate of the State of California, the Assembly
thereof concurring, That the Legislature encourages the State
Teachers' Retirement System, in consultation with affected
stakeholders, including, but not limited to, the Department of
Finance and organizations representing members and school employers,
to develop at least three options to address the long-term funding
needs of the Defined Benefit Program in a manner that allocates any
increased contributions among members of the system, school
employers, and the state, consistent with the contractual rights of
existing members, and submit those options to the Legislature before
February 15, 2013; and be it further
   Resolved, That it is the intent of the Legislature to enact
legislation during the 2013-14 Regular Session that addresses the
long-term funding needs of the Defined Benefit Program of the State
Teachers' Retirement Plan; and be it further
   Resolved, That the Secretary of the Senate transmit copies of this
resolution to the author for appropriate distribution.