AB 937,
as amended, Wieckowski. begin deleteThe California Secure Choice Retirement Savings Trust. end deletebegin insertConservators and guardians: personal rights of conservatees.end insert
Existing law requires that a guardian or conservator of a person be responsible for the care, custody, control, and education of a ward or conservatee, subject to a court’s determination of the extent of those powers, as specified.
end insertbegin insertThis bill would provide that the conservator’s control of the conservatee shall not extend to personal rights retained by the conservatee, including, but not limited to, the right to receive visitors, telephone calls, and mail, unless specifically limited by a court order.
end insertExisting law, contingent upon the receipt of sufficient funds to make the program operative, creates the California Secure Choice Retirement Savings Trust for the purpose of promoting greater retirement savings for California private employees in a convenient, voluntary, low-cost, and portable manner.
end deleteThis bill would make technical, nonsubstantive changes to these provisions.
end deleteVote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
begin insertSection 2351 of the end insertbegin insertProbate Codeend insertbegin insert is amended to
2read:end insert
(a) Subject to subdivision (b), the guardian or
4conservator, but not a limited conservator, has the care, custody,
5and control of, and has charge of the education of, the ward or
6conservatee.begin insert This control shall not extend to personal rights
7retained by the conservatee, including, but not limited to, the right
8to receive visitors, telephone calls, and mail, unless specifically
9limited by court order.end insert
10(b) Where the court determines that it is appropriate in the
11circumstances of the particular conservatee, the court, in its
12discretion, may limit the powers and duties that the conservator
13would otherwise have under
subdivision (a) by an order stating
14either of the following:
15(1) The specific powers that the conservator does not have with
16respect to the conservatee’s person and reserving the powers so
17specified to the conservatee.
18(2) The specific powers and duties the conservator has with
19respect to the conservatee’s person and reserving to the conservatee
20all other rights with respect to the conservatee’s person that the
21conservator otherwise would have under subdivision (a).
22(c) An order under this section (1) may be included in the order
23appointing a conservator of the person or (2) may be made,
24modified, or revoked upon a petition subsequently filed, notice of
25the hearing on the petition having been given for the period and
26in the manner provided in Chapter 3 (commencing with Section
271460) of Part 1.
28(d) The guardian or conservator, in exercising his or her powers,
29may not hire or refer any business to an entity in which he or she
30has a financial interest except upon authorization of the court. Prior
31to authorization from the court, the guardian or conservator shall
32disclose to the court in writing his or her financial interest in the
33entity. For the purposes of this subdivision, “financial interest”
34shall mean (1) an ownership interest in a sole proprietorship, a
35partnership, or a closely held corporation, or (2) an ownership
P3 1interest of greater than 1 percent of the outstanding shares in a
2publicly traded corporation, or (3) being an officer or a director
3of a corporation. This subdivision shall apply only to conservators
4and guardians required to register with the Statewide Registry
5under Chapter 13 (commencing with Section 2850).
Section 100004 of the Government Code is
7amended to read:
(a) There is hereby established a retirement savings
9trust known as the California Secure Choice Retirement Savings
10Trust to be administered by the board for the purpose of promoting
11greater retirement savings for California private employees in a
12convenient, voluntary, low-cost, and portable manner. After
13sufficient funds are made available for this title to be operative
14pursuant to Section 100042, the California Secure Choice
15Retirement Savings Trust, as a self-sustaining trust, shall pay all
16costs of administration out of moneys on deposit in the trust.
17(b) The board shall segregate moneys received by the California
18Secure Choice Retirement Savings Trust into two funds, which
19shall be identified as the program fund and the administrative fund.
20Notwithstanding Section 13340, moneys in the trust are hereby
21continuously appropriated, without regard to fiscal years, to the
22board for the purposes of this title.
23(c) Moneys in the program fund may be invested or reinvested
24by the Treasurer, or may be invested in whole or in part under
25contract with the Board of Administration of the Public Employees’
26Retirement System or private money managers, or both, as
27determined by the board.
28(d) Transfers may be made from the program fund to the
29administrative fund for the purpose
of paying operating costs
30associated with administering the trust and as required by this title.
31On an annual basis, expenditures from the administrative fund
32shall not exceed more than 1 percent of the total program fund.
33All costs of administration of the trust shall be paid out of the
34administrative fund. Operating costs associated with administering
35the trust do not include the procurement of private underwriting
36for the retirement savings’ return.
37(e) Any contributions paid by employees and employers into
38the trust shall be used exclusively for the purpose of paying benefits
39to the participants of the California Secure Choice Retirement
P4 1Savings Program, for the cost of administration of the program,
2and for investments made for the benefit of the program.
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