BILL NUMBER: AB 1519	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  MARCH 6, 2012

INTRODUCED BY   Assembly Member Wieckowski

                        JANUARY 17, 2012

   An act to add Section 31522.8 to the Government Code, relating to
county employees' retirement.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1519, as amended, Wieckowski. County employee retirement
boards.
   The County Employees Retirement Law of 1937 prescribes the rights,
benefits, and duties of members of the retirement systems
established pursuant to its provisions. The act vests the management
of these systems in retirement boards, and sets forth the membership
and qualifications of the boards.  Existing law authorizes the
board of supervisors of any county in which the assets of the
retirement system exceed $800,000,000 to, by resolution, establish a
board of investments, which would be responsible for all investments
of the retirement system. 
   This bill would require a retirement board  and a board of
investments  to adopt a policy for providing education for
members of retirement boards, as specified, and would require all
board members to receive a minimum of 24 hours of board member
education within the first 2 years of assuming office and for every
subsequent 2-year period in which the person serves on the board. The
bill would require  the retirement   each 
board to maintain a record of a board member's compliance with the
policy  ,  and to post the policy and an annual
report on board member compliance on the retirement system's Internet
Web site.
   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 31522.8 is added to the Government Code, to
read:
   31522.8.  A board of retirement  and a board of investments
 subject to this article shall adopt a policy for providing
education to board members. The policy, at a minimum, shall do the
following:
   (a) Identify appropriate topics for board member education, which
may include, but is not limited to, the following:
   (1) Fiduciary responsibilities.
   (2) Ethics.
   (3) Pension fund investments and investment program management.
   (4) Actuarial matters.
   (5) Pension funding.
   (6) Benefits administration.
   (7) Disability evaluation.
   (8) Fair hearings.
   (9) Pension fund governance.
   (10) New board member orientation.
   (b) Establish a means for determining the programs, training, and
educational sessions that qualify as board member education.
Educational seminars sponsored by the state or national public
pension fund organizations  ,  and seminars
sponsored by accredited academic institutions shall be deemed to meet
board member education requirements.
   (c) Require that all board members receive a minimum of 24 hours
of board member education within the first two years of assuming
office and for every subsequent two-year period the board member
continues to hold membership on the board.
   (d) Require each board to maintain a record of board member
compliance with the policy. The policy and an annual report on board
member compliance shall be placed on the Internet Web site of the
retirement system.