Senate BillNo. 294


Introduced by Senator Pan

February 23, 2015


An act to amend Section 22350 of the Education Code, relating to the State Teachers’ Retirement System.

LEGISLATIVE COUNSEL’S DIGEST

SB 294, as introduced, Pan. The State Teachers’ Retirement System.

Existing law establishes the State Teachers’ Retirement System in order to provide a financially sound plan for the retirement, with adequate retirement allowances, of teachers in the public schools of this state, teachers in schools supported by this state, and other persons employed in connection with the schools. Existing law finds and declares that it is necessary and desirable that the system obtain the best possible investment expertise.

This bill would make a technical, nonsubstantive change to that provision.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

P1    1

SECTION 1.  

Section 22350 of the Education Code is amended
2to read:

3

22350.  

The Legislature finds and declares thatbegin insert theend insert changing
4economic conditions and increasing complexity in the investment
5market make it necessary and desirable that the system obtain the
6best possible investment expertise.



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