BILL NUMBER: SB 294	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Price

                        FEBRUARY 14, 2011

   An act relating to public employees' retirement.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 294, as introduced, Price. Public employees' retirement:
emerging investment managers.
   The Public Employees' Retirement Law creates the Public Employees'
Retirement Fund, which is a trust fund created and administered
solely for the benefit of the members and retired members of this
system and their survivors and beneficiaries. The Board of
Administration of the Public Employees' Retirement System has the
exclusive control of the administration and investment of the
retirement fund.
   The Teachers' Retirement Law establishes the State Teachers'
Retirement System in order to provide a financially sound plan for
the retirement, with adequate retirement allowances, for teachers in
public schools of the state, teachers in schools supported by the
state, and other persons employed in connection with the schools. The
plan and the system are administered by the Teachers' Retirement
Board.
   This bill would declare the intent of the Legislature to enact
legislation to increase the participation of emerging investment
managers relating to investments managed by the Public Employees'
Retirement System and the State Teachers' Retirement System.
   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.  It is the intent of the Legislature to enact
legislation to increase the participation of emerging investment
managers relating to investments managed by the Public Employees'
Retirement System and the State Teachers' Retirement System.