BILL ANALYSIS Ó
AB 991
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Date of Hearing: April 15, 2015
ASSEMBLY COMMITTEE ON APPROPRIATIONS
Jimmy Gomez, Chair
AB
991 (PERSS Committee) - As Introduced February 26, 2015
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|Policy | PERSS |Vote:|6-0 |
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Urgency: No State Mandated Local Program: NoReimbursable: No
SUMMARY:
This bill makes various technical, conforming, and minor changes
to the Teachers Retirement Law and administration of the
California State Teachers Retirement System (CalSTRS) Plan.
FISCAL EFFECT:
One-time special fund costs to CalSTRS of $90,000 to $100,000 to
update systems; minor and absorbable ongoing program costs;
ongoing savings from eliminating certain payments and collection
efforts.
AB 991
Page 2
COMMENTS:
Purpose. According to the sponsor, CalSTRS, this bill will help
ensure continued effective and efficient plan administration for
CalSTRS internal and external customers.
Analysis Prepared by:Joel Tashjian / APPR. / (916)
319-2081