BILL ANALYSIS Ó SB 349 Page 1 Date of Hearing: July 6, 2011 ASSEMBLY COMMITTEE ON APPROPRIATIONS Felipe Fuentes, Chair SB 349 (Negrete McLeod) - As Amended: May 26, 2011 Policy Committee: PERSS Vote:6-0 Urgency: No State Mandated Local Program: No Reimbursable: SUMMARY This bill makes technical, clarifying and non-controversial changes to various sections of the Education Code administered by the California State Teachers' Retirement System (CalSTRS) to improve and continue effective administration of the System. FISCAL EFFECT The cost to CalSTRS of administering these provisions is minor and absorbable. COMMENTS Purpose . According to the bill's sponsor, CalSTRS, SB 349 makes various technical and conforming changes, in addition to minor policy changes, to the Teachers' Retirement Law and will facilitate efficient administration of the State Teachers' Retirement Plan. They argue that SB 349 will help ensure continued effective and efficient plan administration and compliance with federal law and make conforming changes to reconcile differences between the Defined Benefit and Covered Benefit programs. Analysis Prepared by : Roger Dunstan / APPR. / (916) 319-2081