CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 3150Introduced by Assembly Member BroughFebruary 16, 2018 An act to amend Section 7512 of the Government Code, relating to public employees retirement. LEGISLATIVE COUNSEL'S DIGESTAB 3150, as introduced, Brough. Public employees retirement: annual audits.Existing law creates state and local public pension and retirement systems that provide pension benefits based on age at retirement, service credit, and final compensation. Existing law requires each state and local public pension or retirement system, on and after the 90th day following the completion of the annual audit of the system, to provide a concise annual report on the investments and earnings of the system, as specified, to any member who makes a request and pays a fee, if required, for the costs incurred in preparation and dissemination of that report.This bill would also require each state and local pension or retirement system to post a concise annual audit of the information described above on that systems Internet Web site no later than the 90th day following the audits completion. By imposing new duties on local retirement systems, the bill would impose a state-mandated local program.The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: YES Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 7512 of the Government Code is amended to read:7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.Each(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.SEC. 2. If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Assembly Bill No. 3150Introduced by Assembly Member BroughFebruary 16, 2018 An act to amend Section 7512 of the Government Code, relating to public employees retirement. LEGISLATIVE COUNSEL'S DIGESTAB 3150, as introduced, Brough. Public employees retirement: annual audits.Existing law creates state and local public pension and retirement systems that provide pension benefits based on age at retirement, service credit, and final compensation. Existing law requires each state and local public pension or retirement system, on and after the 90th day following the completion of the annual audit of the system, to provide a concise annual report on the investments and earnings of the system, as specified, to any member who makes a request and pays a fee, if required, for the costs incurred in preparation and dissemination of that report.This bill would also require each state and local pension or retirement system to post a concise annual audit of the information described above on that systems Internet Web site no later than the 90th day following the audits completion. By imposing new duties on local retirement systems, the bill would impose a state-mandated local program.The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: YES
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION
Assembly Bill No. 3150
Introduced by Assembly Member BroughFebruary 16, 2018
Introduced by Assembly Member Brough
February 16, 2018
An act to amend Section 7512 of the Government Code, relating to public employees retirement.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 3150, as introduced, Brough. Public employees retirement: annual audits.
Existing law creates state and local public pension and retirement systems that provide pension benefits based on age at retirement, service credit, and final compensation. Existing law requires each state and local public pension or retirement system, on and after the 90th day following the completion of the annual audit of the system, to provide a concise annual report on the investments and earnings of the system, as specified, to any member who makes a request and pays a fee, if required, for the costs incurred in preparation and dissemination of that report.This bill would also require each state and local pension or retirement system to post a concise annual audit of the information described above on that systems Internet Web site no later than the 90th day following the audits completion. By imposing new duties on local retirement systems, the bill would impose a state-mandated local program.The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.
Existing law creates state and local public pension and retirement systems that provide pension benefits based on age at retirement, service credit, and final compensation. Existing law requires each state and local public pension or retirement system, on and after the 90th day following the completion of the annual audit of the system, to provide a concise annual report on the investments and earnings of the system, as specified, to any member who makes a request and pays a fee, if required, for the costs incurred in preparation and dissemination of that report.
This bill would also require each state and local pension or retirement system to post a concise annual audit of the information described above on that systems Internet Web site no later than the 90th day following the audits completion. By imposing new duties on local retirement systems, the bill would impose a state-mandated local program.
The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement.
This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 7512 of the Government Code is amended to read:7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.Each(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.SEC. 2. If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 7512 of the Government Code is amended to read:7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.Each(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.
SECTION 1. Section 7512 of the Government Code is amended to read:
### SECTION 1.
7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.Each(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.
7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.Each(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.
7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.Each(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.
7512. (a) (1) Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or otherwise provide to any member who makes a request therefor and pays, if required, a fee, a concise annual report on the investments and earnings of the system and other related matters. The report shall be published in a low-cost format.
Each
(2) Each local public pension or retirement system may impose a fee for each copy of the report in an amount sufficient to pay all costs incurred in the preparation and dissemination of the report.
(b) In addition to complying with subdivision (a), each state and local public pension or retirement system shall, no later than the 90th day following the completion of the annual audit of the system, post on its Internet Web site a concise annual report on the investments and earnings of the system and other related matters.
SEC. 2. If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.
SEC. 2. If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.
SEC. 2. If the Commission on State Mandates determines that this act contains costs mandated by the state, reimbursement to local agencies and school districts for those costs shall be made pursuant to Part 7 (commencing with Section 17500) of Division 4 of Title 2 of the Government Code.
### SEC. 2.