CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Senate Bill No. 1006Introduced by Senator MorrellFebruary 06, 2018 An act to amend Section 100036 of the Government Code, relating to private retirement savings. LEGISLATIVE COUNSEL'S DIGESTSB 1006, as introduced, Morrell. California Secure Choice Retirement Savings Trust Act.Existing law, the California Secure Choice Retirement Savings Trust Act, establishes the California Secure Choice Retirement Savings Program, administered by the California Secure Choice Retirement Savings Investment Board. Existing law requires the board, prior to opening the program for enrollment, to make a report to the Governor and Legislature affirming that certain requirements have been met, including that the program is structured in a manner to keep it from being classified as an employee benefit plan subject to the federal Employee Retirement Income Security Act. Existing law prohibits the state from having liability for the payment of the retirement savings benefit earned by program participants and provides that the state and its funds are not obligated for the payment of benefits arising from the program.This bill would make nonsubstantive changes to the provisions regarding the liability and obligations of the state, described above. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 100036 of the Government Code is amended to read:100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Senate Bill No. 1006Introduced by Senator MorrellFebruary 06, 2018 An act to amend Section 100036 of the Government Code, relating to private retirement savings. LEGISLATIVE COUNSEL'S DIGESTSB 1006, as introduced, Morrell. California Secure Choice Retirement Savings Trust Act.Existing law, the California Secure Choice Retirement Savings Trust Act, establishes the California Secure Choice Retirement Savings Program, administered by the California Secure Choice Retirement Savings Investment Board. Existing law requires the board, prior to opening the program for enrollment, to make a report to the Governor and Legislature affirming that certain requirements have been met, including that the program is structured in a manner to keep it from being classified as an employee benefit plan subject to the federal Employee Retirement Income Security Act. Existing law prohibits the state from having liability for the payment of the retirement savings benefit earned by program participants and provides that the state and its funds are not obligated for the payment of benefits arising from the program.This bill would make nonsubstantive changes to the provisions regarding the liability and obligations of the state, described above. Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION
Senate Bill No. 1006
Introduced by Senator MorrellFebruary 06, 2018
Introduced by Senator Morrell
February 06, 2018
An act to amend Section 100036 of the Government Code, relating to private retirement savings.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 1006, as introduced, Morrell. California Secure Choice Retirement Savings Trust Act.
Existing law, the California Secure Choice Retirement Savings Trust Act, establishes the California Secure Choice Retirement Savings Program, administered by the California Secure Choice Retirement Savings Investment Board. Existing law requires the board, prior to opening the program for enrollment, to make a report to the Governor and Legislature affirming that certain requirements have been met, including that the program is structured in a manner to keep it from being classified as an employee benefit plan subject to the federal Employee Retirement Income Security Act. Existing law prohibits the state from having liability for the payment of the retirement savings benefit earned by program participants and provides that the state and its funds are not obligated for the payment of benefits arising from the program.This bill would make nonsubstantive changes to the provisions regarding the liability and obligations of the state, described above.
Existing law, the California Secure Choice Retirement Savings Trust Act, establishes the California Secure Choice Retirement Savings Program, administered by the California Secure Choice Retirement Savings Investment Board. Existing law requires the board, prior to opening the program for enrollment, to make a report to the Governor and Legislature affirming that certain requirements have been met, including that the program is structured in a manner to keep it from being classified as an employee benefit plan subject to the federal Employee Retirement Income Security Act. Existing law prohibits the state from having liability for the payment of the retirement savings benefit earned by program participants and provides that the state and its funds are not obligated for the payment of benefits arising from the program.
This bill would make nonsubstantive changes to the provisions regarding the liability and obligations of the state, described above.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 100036 of the Government Code is amended to read:100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.
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 100036 of the Government Code is amended to read:100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.
SECTION 1. Section 100036 of the Government Code is amended to read:
### SECTION 1.
100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.
100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.
100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.
100036. The state shall not have any liability for the payment of the retirement savings benefit earned by program participants pursuant to this title. The state, and any of the funds of the state, shall have no obligation not be obligated for payment of the benefits arising from this title.