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1 | + | 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. | |
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3 | + | 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 | |
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5 | - | Amended IN Senate April 30, 2018 | |
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7 | - | Amended IN Senate April 30, 2018 | |
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9 | 9 | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION | |
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11 | 11 | Senate Bill No. 1006 | |
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13 | 13 | Introduced by Senator MorrellFebruary 06, 2018 | |
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15 | 15 | Introduced by Senator Morrell | |
16 | 16 | February 06, 2018 | |
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18 | - | An act to amend Section 100036 of the Government Code, relating to private retirement savings. | |
18 | + | An act to amend Section 100036 of the Government Code, relating to private retirement savings. | |
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20 | 20 | LEGISLATIVE COUNSEL'S DIGEST | |
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22 | 22 | ## LEGISLATIVE COUNSEL'S DIGEST | |
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24 | - | SB 1006, as | |
24 | + | SB 1006, as introduced, Morrell. California Secure Choice Retirement Savings Trust Act. | |
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26 | - | Existing law establishes the Employment Development Department within the Labor and Workforce Development Agency to perform, among other things, job creation activities. Under existing law, various professions and vocations are required to be licensed and regulated by state entities, including, but not limited to, the boards, bureaus, and committees in the Department of Consumer Affairs.Contingent on the appropriation of specified funds, this bill would require the Employment Development Department to establish and maintain a list of occupational licenses required by the State of California and would require the department to post the list on its Internet Web site.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. | |
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28 | - | Existing law establishes the Employment Development Department within the Labor and Workforce Development Agency to perform, among other things, job creation activities. Under existing law, various professions and vocations are required to be licensed and regulated by state entities, including, but not limited to, the boards, bureaus, and committees in the Department of Consumer Affairs. | |
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30 | - | Contingent on the appropriation of specified funds, this bill would require the Employment Development Department to establish and maintain a list of occupational licenses required by the State of California and would require the department to post the list on its Internet Web site. | |
26 | + | 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. | |
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32 | 28 | 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. | |
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36 | 30 | This bill would make nonsubstantive changes to the provisions regarding the liability and obligations of the state, described above. | |
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40 | 32 | ## Digest Key | |
41 | 33 | ||
42 | 34 | ## Bill Text | |
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44 | - | The people of the State of California do enact as follows:SECTION 1. Section | |
36 | + | 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. | |
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46 | 38 | The people of the State of California do enact as follows: | |
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48 | 40 | ## The people of the State of California do enact as follows: | |
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50 | - | SECTION 1. Section | |
42 | + | 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. | |
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52 | - | SECTION 1. Section | |
44 | + | SECTION 1. Section 100036 of the Government Code is amended to read: | |
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54 | 46 | ### SECTION 1. | |
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48 | + | 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. | |
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50 | + | 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. | |
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52 | + | 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. | |
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64 | - | 339. (a) The department shall establish and maintain a list of occupational licenses required by the state. | |
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66 | - | (b) The department shall post the list described in subdivision (a) on its Internet Web site. | |
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68 | - | (c) This section shall be implemented contingent on an appropriation of federal grant money authorized for this purpose or upon any other appropriation for this purpose in the annual budget act. | |
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74 | - | The state shall not have 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 not be obligated for payment of the benefits arising from this title. | |
56 | + | 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. |