CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2727Introduced by Assembly Member GraysonFebruary 20, 2020 An act to amend Section 42850 of the Education Code, relating to school districts. LEGISLATIVE COUNSEL'S DIGESTAB 2727, as introduced, Grayson. School districts: retiree benefit funds.Existing law authorizes the governing board of a school district to establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reductions agreements, other contributions for employee retirement benefit payments, or both. This bill would instead require the governing board of a school district to establish that fund.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 42850 of the Education Code is amended to read:42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 2727Introduced by Assembly Member GraysonFebruary 20, 2020 An act to amend Section 42850 of the Education Code, relating to school districts. LEGISLATIVE COUNSEL'S DIGESTAB 2727, as introduced, Grayson. School districts: retiree benefit funds.Existing law authorizes the governing board of a school district to establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reductions agreements, other contributions for employee retirement benefit payments, or both. This bill would instead require the governing board of a school district to establish that fund.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Assembly Bill
No. 2727
Introduced by Assembly Member GraysonFebruary 20, 2020
Introduced by Assembly Member Grayson
February 20, 2020
An act to amend Section 42850 of the Education Code, relating to school districts.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 2727, as introduced, Grayson. School districts: retiree benefit funds.
Existing law authorizes the governing board of a school district to establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reductions agreements, other contributions for employee retirement benefit payments, or both. This bill would instead require the governing board of a school district to establish that fund.
Existing law authorizes the governing board of a school district to establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reductions agreements, other contributions for employee retirement benefit payments, or both.
This bill would instead require the governing board of a school district to establish that fund.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 42850 of the Education Code is amended to read:42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this 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 42850 of the Education Code is amended to read:42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.
SECTION 1. Section 42850 of the Education Code is amended to read:
### SECTION 1.
42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.
42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.
42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.
42850. The governing board of any a school district may shall establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.