BILL NUMBER:  SB 1162
  VETOED	DATE: 09/16/2016




To the Members of the California State Senate:

I am returning Senate Bill 1162 without my signature.

This bill allows the Mammoth Lake Fire District to request that the
California Public Employees' Retirement System Board transfer assets
from the District's superfunded miscellaneous employee plan to its
safety employee plan in order to pay for unfunded liabilities in the
safety plan.

Inherent in the nature of our pension systems is that each employee
plan be funded separately and expend its funds only for the benefit
of specific beneficiaries. This bill would upend this longstanding
practice and set a harmful precedent by allowing the transfer of
assets from one employee group to another.

Sincerely,



Edmund G. Brown Jr.