BILL ANALYSIS Ó SB 215 Page 1 Date of Hearing: July 3, 2013 ASSEMBLY COMMITTEE ON APPROPRIATIONS Mike Gatto, Chair SB 215 (Beall) - As Amended: May 30, 2013 Policy Committee: PERSS Vote:6-0 Urgency: No State Mandated Local Program: No Reimbursable: SUMMARY This bill makes technical and conforming changes to the Public Employees' Retirement Law (PERL) necessary for continued effective administration of the California Public Employees' Retirement System (CalPERS). The provisions address issue regarding contracting, paperless benefit statements, reimbursement of employers for Board of Administration costs and technical cleanup. FISCAL EFFECT CalPERS estimates it will save about $2 million because of the provisions of this bill. COMMENTS 1) Purpose . According to the sponsor, CalPERS, SB 215 would make several minor policy and technical amendments to various sections of the Government Code administered by CalPERS and ensures the statutes administered by CalPERS are as clear and unambiguous as possible. CalPERS reports that it incurs an annual cost of $2.8 million to reimburse the State Controller for printing and mailing benefit statements each month to approximately 92% of retirees who receive their retirement allowance through Electronic Funds Transfer. By authorizing CalPERS to provide benefit statements electronically, this bill would reduce that cost proportionately. 2)Technical amendment . Existing law limits a spouse who has remarried a former spouse from making the same beneficiary choices as other CalPERS members. The amendment removes the limitation. SB 215 Page 2 3)There is no registered opposition to this bill. Analysis Prepared by : Roger Dunstan / APPR. / (916) 319-2081