California 2019-2020 Regular Session

California Assembly Bill AB462 Compare Versions

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1-Amended IN Senate May 21, 2019 Amended IN Assembly March 26, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 462Introduced by Assembly Member RodriguezFebruary 11, 2019An act to amend Section 23301 of the Education Code, and to amend Sections 20437 and 21408 of the Government Code, relating to public retirement systems. An act to add Section 22228 to the Education Code, and to add Section 20136 to the Government Code, relating to public retirement systems.LEGISLATIVE COUNSEL'S DIGESTAB 462, as amended, Rodriguez. Public retirement. Asset management: emerging managers.The California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and system. The Public Employees Retirement Law creates the Public Employees Retirement Fund for the benefit of the members and retired members of this retirement system and their survivors and beneficiaries. The Board of Administration of the Public Employees Retirement System (PERS) has the exclusive control of the administration and investment of the retirement fund.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) for the benefit of teachers and other persons employed in connection with the schools of this state. STRS is administered by the Teachers Retirement Board. This bill would require the Board of Administration of the Public Employees Retirement System and the Teachers Retirement Board to each provide a report to the Legislature, commencing March 1, 2021, and annually thereafter, on the status of achieving appropriate objectives and initiatives, to be defined by the boards, regarding participation of emerging managers responsible for asset management within each systems portfolio of investments. The bill would require that the report be based on contracts that the system enters into on and after January 1, 2020, and be based on information from the prior fiscal year. The bill would require each report to include certain elements and would require the boards to define emerging manager for purposes of these provisions.The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes. This bill would make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NOYES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 22228 is added to the Education Code, to read:22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.SEC. 2. Section 20136 is added to the Government Code, to read:20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.SECTION 1.Section 23301 of the Education Code is amended to read:23301.A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.SEC. 2.Section 20437 of the Government Code is amended to read:20437.(a)County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. A county peace officer shall receive credit for service as a peace officer for any time served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b)The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c)County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.SEC. 3.Section 21408 of the Government Code is amended to read:21408.Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of the members final compensation plus an annuity purchased with the members accumulated additional contributions, if any, or, if qualified for service retirement, the member shall receive service retirement allowance, if the allowance, after deducting the annuity, is greater.
1+Amended IN Assembly March 26, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 462Introduced by Assembly Member RodriguezFebruary 11, 2019 An act to amend Section 23301 of the Education Code, and to amend Section 20963 Sections 20437 and 21408 of the Government Code, relating to public retirement systems. LEGISLATIVE COUNSEL'S DIGESTAB 462, as amended, Rodriguez. Public retirement: service credit: sick leave. retirement.The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL prescribes requirements for the computation of service credit in connection with sick leave that are applicable to a state, school, and school safety member, if the effective date of retirement is within 4 months of separation from employment with the employer that granted the sick leave credit. defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes. This bill would provide that all sick leave acquired by a school member from all employers subject to PERL within 4 months of separation may be credited as service credit when specified conditions are met. make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YESNO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 23301 of the Education Code is amended to read:23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.SEC. 2. Section 20437 of the Government Code is amended to read:20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.SEC. 3. Section 21408 of the Government Code is amended to read:21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.SEC. 2.Section 20963 of the Government Code is amended to read:20963.(a)(1)A state, school, or school safety member, whose effective date of retirement is within four months of separation from employment with the employer subject to this section that granted the sick leave credit, shall be credited at the members retirement with 0.004 year of service credit for each unused day of sick leave certified to the board by the employer. The certification shall report only those days of unused sick leave that were accrued by the member during the normal course of the members employment and shall not include any additional days of sick leave reported for the purpose of increasing the members retirement benefit. Reports of unused days of sick leave shall be subject to audit and retirement benefits may be adjusted where improper reporting is found. For purposes of this subdivision, sick leave shall not include sick leave earned as a National Guard member as described in Section 20380.5.(2)For purposes of this section, and for a school member, employer shall include all employers subject to this section that the school member was employed at within four months of separation from employment.(b)Until receipt of certification from an employer concerning unused sick leave, the board may pay an estimated allowance pursuant to this section. At the time of receipt of the certification, the allowance shall be adjusted to reflect any necessary changes.(c)Notwithstanding any other provisions of this part, this section shall not apply to local members other than local miscellaneous members employed before July 1, 1980, by a school district that is a contracting agency or those school safety members employed before July 1, 1980, by a contracting agency that is a school district or community college district, as defined in subdivision (i) of Section 20057.(d)This section shall not apply to any of the following:(1)A person who becomes a school member on and after July 1, 1980, and any person who becomes a local member employed, on and after July 1, 1980, by a school district that is a contracting agency whether or not the person was ever a school member or local member prior to that date.(2)A state employee, with respect to sick leave credits earned as a state member under Section 21353.5, except that the member shall be entitled to receive credit under this section for the sick leave the member has earned as a state member subject to any other retirement formula, provided the member has a sick leave credit balance remaining at the time of retirement.(e)For the purposes of this section, sick leave benefits provided to state employees pursuant to the state sick leave system shall be construed to mean compensation paid to employees on approved leaves of absence because of sickness.
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3- Amended IN Senate May 21, 2019 Amended IN Assembly March 26, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 462Introduced by Assembly Member RodriguezFebruary 11, 2019An act to amend Section 23301 of the Education Code, and to amend Sections 20437 and 21408 of the Government Code, relating to public retirement systems. An act to add Section 22228 to the Education Code, and to add Section 20136 to the Government Code, relating to public retirement systems.LEGISLATIVE COUNSEL'S DIGESTAB 462, as amended, Rodriguez. Public retirement. Asset management: emerging managers.The California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and system. The Public Employees Retirement Law creates the Public Employees Retirement Fund for the benefit of the members and retired members of this retirement system and their survivors and beneficiaries. The Board of Administration of the Public Employees Retirement System (PERS) has the exclusive control of the administration and investment of the retirement fund.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) for the benefit of teachers and other persons employed in connection with the schools of this state. STRS is administered by the Teachers Retirement Board. This bill would require the Board of Administration of the Public Employees Retirement System and the Teachers Retirement Board to each provide a report to the Legislature, commencing March 1, 2021, and annually thereafter, on the status of achieving appropriate objectives and initiatives, to be defined by the boards, regarding participation of emerging managers responsible for asset management within each systems portfolio of investments. The bill would require that the report be based on contracts that the system enters into on and after January 1, 2020, and be based on information from the prior fiscal year. The bill would require each report to include certain elements and would require the boards to define emerging manager for purposes of these provisions.The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes. This bill would make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NOYES Local Program: NO
3+ Amended IN Assembly March 26, 2019 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Assembly Bill No. 462Introduced by Assembly Member RodriguezFebruary 11, 2019 An act to amend Section 23301 of the Education Code, and to amend Section 20963 Sections 20437 and 21408 of the Government Code, relating to public retirement systems. LEGISLATIVE COUNSEL'S DIGESTAB 462, as amended, Rodriguez. Public retirement: service credit: sick leave. retirement.The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL prescribes requirements for the computation of service credit in connection with sick leave that are applicable to a state, school, and school safety member, if the effective date of retirement is within 4 months of separation from employment with the employer that granted the sick leave credit. defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes. This bill would provide that all sick leave acquired by a school member from all employers subject to PERL within 4 months of separation may be credited as service credit when specified conditions are met. make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YESNO Local Program: NO
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5- Amended IN Senate May 21, 2019 Amended IN Assembly March 26, 2019
5+ Amended IN Assembly March 26, 2019
66
7-Amended IN Senate May 21, 2019
87 Amended IN Assembly March 26, 2019
98
109 CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
1110
1211 Assembly Bill No. 462
1312
1413 Introduced by Assembly Member RodriguezFebruary 11, 2019
1514
1615 Introduced by Assembly Member Rodriguez
1716 February 11, 2019
1817
19-An act to amend Section 23301 of the Education Code, and to amend Sections 20437 and 21408 of the Government Code, relating to public retirement systems. An act to add Section 22228 to the Education Code, and to add Section 20136 to the Government Code, relating to public retirement systems.
18+ An act to amend Section 23301 of the Education Code, and to amend Section 20963 Sections 20437 and 21408 of the Government Code, relating to public retirement systems.
2019
2120 LEGISLATIVE COUNSEL'S DIGEST
2221
2322 ## LEGISLATIVE COUNSEL'S DIGEST
2423
25-AB 462, as amended, Rodriguez. Public retirement. Asset management: emerging managers.
24+AB 462, as amended, Rodriguez. Public retirement: service credit: sick leave. retirement.
2625
27-The California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and system. The Public Employees Retirement Law creates the Public Employees Retirement Fund for the benefit of the members and retired members of this retirement system and their survivors and beneficiaries. The Board of Administration of the Public Employees Retirement System (PERS) has the exclusive control of the administration and investment of the retirement fund.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) for the benefit of teachers and other persons employed in connection with the schools of this state. STRS is administered by the Teachers Retirement Board. This bill would require the Board of Administration of the Public Employees Retirement System and the Teachers Retirement Board to each provide a report to the Legislature, commencing March 1, 2021, and annually thereafter, on the status of achieving appropriate objectives and initiatives, to be defined by the boards, regarding participation of emerging managers responsible for asset management within each systems portfolio of investments. The bill would require that the report be based on contracts that the system enters into on and after January 1, 2020, and be based on information from the prior fiscal year. The bill would require each report to include certain elements and would require the boards to define emerging manager for purposes of these provisions.The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes. This bill would make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.
26+The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL prescribes requirements for the computation of service credit in connection with sick leave that are applicable to a state, school, and school safety member, if the effective date of retirement is within 4 months of separation from employment with the employer that granted the sick leave credit. defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes. This bill would provide that all sick leave acquired by a school member from all employers subject to PERL within 4 months of separation may be credited as service credit when specified conditions are met. make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.
2827
29-The California Constitution grants the retirement board of a public employee retirement system plenary authority and fiduciary responsibility for investment of moneys and administration of the retirement fund and system.
28+The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL prescribes requirements for the computation of service credit in connection with sick leave that are applicable to a state, school, and school safety member, if the effective date of retirement is within 4 months of separation from employment with the employer that granted the sick leave credit. defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes.
3029
31-The Public Employees Retirement Law creates the Public Employees Retirement Fund for the benefit of the members and retired members of this retirement system and their survivors and beneficiaries. The Board of Administration of the Public Employees Retirement System (PERS) has the exclusive control of the administration and investment of the retirement fund.
32-
33-The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) for the benefit of teachers and other persons employed in connection with the schools of this state. STRS is administered by the Teachers Retirement Board.
34-
35-This bill would require the Board of Administration of the Public Employees Retirement System and the Teachers Retirement Board to each provide a report to the Legislature, commencing March 1, 2021, and annually thereafter, on the status of achieving appropriate objectives and initiatives, to be defined by the boards, regarding participation of emerging managers responsible for asset management within each systems portfolio of investments. The bill would require that the report be based on contracts that the system enters into on and after January 1, 2020, and be based on information from the prior fiscal year. The bill would require each report to include certain elements and would require the boards to define emerging manager for purposes of these provisions.
36-
37-The Public Employees Retirement Law (PERL) creates the Public Employees Retirement System (PERS), which provides defined benefits to members of the system based on final compensation, credited service, and age at retirement, subject to certain variations. PERL defines terms for its purposes, including a county peace officer. PERL prescribes, among other things, the disability allowance for a state miscellaneous member upon industrial disability retirement as 50% of the members final compensation, unless otherwise provided. PERL also defines a county police officer for PERS purposes.
38-
39-
40-
41-This bill would make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.
42-
43-
30+This bill would provide that all sick leave acquired by a school member from all employers subject to PERL within 4 months of separation may be credited as service credit when specified conditions are met. make nonsubstantive changes to the provisions defining a county peace officer and prescribing the disability allowance for a state miscellaneous member upon industrial disability retirement.
4431
4532 The Teachers Retirement Law establishes the State Teachers Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS authorizes a member to designate specified entities as a beneficiary, subject to specified conditions.
4633
47-
48-
4934 This bill would make a nonsubstantive change to the provision authorizing a member to designate an entity as a beneficiary.
50-
51-
5235
5336 ## Digest Key
5437
5538 ## Bill Text
5639
57-The people of the State of California do enact as follows:SECTION 1. Section 22228 is added to the Education Code, to read:22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.SEC. 2. Section 20136 is added to the Government Code, to read:20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.SECTION 1.Section 23301 of the Education Code is amended to read:23301.A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.SEC. 2.Section 20437 of the Government Code is amended to read:20437.(a)County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. A county peace officer shall receive credit for service as a peace officer for any time served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b)The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c)County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.SEC. 3.Section 21408 of the Government Code is amended to read:21408.Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of the members final compensation plus an annuity purchased with the members accumulated additional contributions, if any, or, if qualified for service retirement, the member shall receive service retirement allowance, if the allowance, after deducting the annuity, is greater.
40+The people of the State of California do enact as follows:SECTION 1. Section 23301 of the Education Code is amended to read:23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.SEC. 2. Section 20437 of the Government Code is amended to read:20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.SEC. 3. Section 21408 of the Government Code is amended to read:21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.SEC. 2.Section 20963 of the Government Code is amended to read:20963.(a)(1)A state, school, or school safety member, whose effective date of retirement is within four months of separation from employment with the employer subject to this section that granted the sick leave credit, shall be credited at the members retirement with 0.004 year of service credit for each unused day of sick leave certified to the board by the employer. The certification shall report only those days of unused sick leave that were accrued by the member during the normal course of the members employment and shall not include any additional days of sick leave reported for the purpose of increasing the members retirement benefit. Reports of unused days of sick leave shall be subject to audit and retirement benefits may be adjusted where improper reporting is found. For purposes of this subdivision, sick leave shall not include sick leave earned as a National Guard member as described in Section 20380.5.(2)For purposes of this section, and for a school member, employer shall include all employers subject to this section that the school member was employed at within four months of separation from employment.(b)Until receipt of certification from an employer concerning unused sick leave, the board may pay an estimated allowance pursuant to this section. At the time of receipt of the certification, the allowance shall be adjusted to reflect any necessary changes.(c)Notwithstanding any other provisions of this part, this section shall not apply to local members other than local miscellaneous members employed before July 1, 1980, by a school district that is a contracting agency or those school safety members employed before July 1, 1980, by a contracting agency that is a school district or community college district, as defined in subdivision (i) of Section 20057.(d)This section shall not apply to any of the following:(1)A person who becomes a school member on and after July 1, 1980, and any person who becomes a local member employed, on and after July 1, 1980, by a school district that is a contracting agency whether or not the person was ever a school member or local member prior to that date.(2)A state employee, with respect to sick leave credits earned as a state member under Section 21353.5, except that the member shall be entitled to receive credit under this section for the sick leave the member has earned as a state member subject to any other retirement formula, provided the member has a sick leave credit balance remaining at the time of retirement.(e)For the purposes of this section, sick leave benefits provided to state employees pursuant to the state sick leave system shall be construed to mean compensation paid to employees on approved leaves of absence because of sickness.
5841
5942 The people of the State of California do enact as follows:
6043
6144 ## The people of the State of California do enact as follows:
6245
63-SECTION 1. Section 22228 is added to the Education Code, to read:22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.
46+SECTION 1. Section 23301 of the Education Code is amended to read:23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.
6447
65-SECTION 1. Section 22228 is added to the Education Code, to read:
48+SECTION 1. Section 23301 of the Education Code is amended to read:
6649
6750 ### SECTION 1.
6851
69-22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.
52+23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.
7053
71-22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.
54+23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.
7255
73-22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.
56+23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.
7457
7558
7659
77-22228. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5 of the Government Code, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.
60+23301. A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.
7861
79-(b) The report shall also identify and include all of the following:
62+SEC. 2. Section 20437 of the Government Code is amended to read:20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.
8063
81-(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.
82-
83-(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.
84-
85-(c) The board shall define the term emerging manager for purposes of this section.
86-
87-(d) The report required by this section shall be submitted in compliance with Section 9795 of the Government Code.
88-
89-(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.
90-
91-(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26 of the Government Code.
92-
93-SEC. 2. Section 20136 is added to the Government Code, to read:20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.
94-
95-SEC. 2. Section 20136 is added to the Government Code, to read:
64+SEC. 2. Section 20437 of the Government Code is amended to read:
9665
9766 ### SEC. 2.
9867
99-20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.
68+20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.
10069
101-20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.
70+20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.
10271
103-20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.(b) The report shall also identify and include all of the following:(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.(c) The board shall define the term emerging manager for purposes of this section.(d) The report required by this section shall be submitted in compliance with Section 9795.(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.
72+20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.
10473
10574
10675
107-20136. (a) Commencing March 1, 2021, and annually thereafter, notwithstanding Section 10231.5, the board shall submit a report to the Legislature on the status of achieving appropriate objectives and initiatives, as defined by the board, regarding participation of emerging managers responsible for asset management within its portfolio of investments. The report shall be based on contracts the system enters into on and after January 1, 2020.
76+20437. (a) County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. He or she A county peace officer shall receive credit for service as a peace officer for any time he or she served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.
10877
109-(b) The report shall also identify and include all of the following:
78+(b) The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.
11079
111-(1) The name of each emerging manager providing investment portfolio or asset management services at the end of the prior fiscal year, including, but not limited to, fund of funds contracts, for all asset classes, as applicable.
80+(c) County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.
11281
113-(2) The amount managed by each emerging manager by asset class at the end of the prior fiscal year.
82+SEC. 3. Section 21408 of the Government Code is amended to read:21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.
11483
115-(c) The board shall define the term emerging manager for purposes of this section.
84+SEC. 3. Section 21408 of the Government Code is amended to read:
11685
117-(d) The report required by this section shall be submitted in compliance with Section 9795.
86+### SEC. 3.
11887
119-(e) Nothing in this section shall require the board to take action unless the board determines in good faith that the action described in this section is consistent with the fiduciary responsibilities of the board as described in Section 17 of Article XVI of the California Constitution.
88+21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.
12089
121-(f) This section shall not require the board to disclose information that is excepted from disclosure under Section 6254.26.
90+21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.
91+
92+21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.
93+
94+
95+
96+21408. Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of his or her the members final compensation plus an annuity purchased with his or her the members accumulated additional contributions, if any, or, if qualified for service retirement, he or she the member shall receive his or her service retirement allowance, if the allowance, after deducting the annuity, is greater.
12297
12398
12499
125100
126101
127-A corporation, trust, charitable organization, parochial institution, or public entity may be designated as a beneficiary under this part, but they shall not be designated as option beneficiaries, except a trust as defined in Section 22149.
102+(a)(1)A state, school, or school safety member, whose effective date of retirement is within four months of separation from employment with the employer subject to this section that granted the sick leave credit, shall be credited at the members retirement with 0.004 year of service credit for each unused day of sick leave certified to the board by the employer. The certification shall report only those days of unused sick leave that were accrued by the member during the normal course of the members employment and shall not include any additional days of sick leave reported for the purpose of increasing the members retirement benefit. Reports of unused days of sick leave shall be subject to audit and retirement benefits may be adjusted where improper reporting is found. For purposes of this subdivision, sick leave shall not include sick leave earned as a National Guard member as described in Section 20380.5.
128103
129104
130105
106+(2)For purposes of this section, and for a school member, employer shall include all employers subject to this section that the school member was employed at within four months of separation from employment.
131107
132108
133109
134-
135-(a)County peace officer shall also include the constable and each regularly employed deputy constable and the marshal and each regularly employed deputy marshal who serves the superior court. A county peace officer shall receive credit for service as a peace officer for any time served as constable or deputy constable of a township or justice court or marshal or deputy marshal of a municipal court in the same county.
110+(b)Until receipt of certification from an employer concerning unused sick leave, the board may pay an estimated allowance pursuant to this section. At the time of receipt of the certification, the allowance shall be adjusted to reflect any necessary changes.
136111
137112
138113
139-(b)The provisions of this section do not apply to the employees of a contracting agency nor to the agency, unless and until the contracting agency elects to be subject to this section by amendment to its contract with the board, made as provided in Section 20474, or by express provision in its contract with the board.
114+(c)Notwithstanding any other provisions of this part, this section shall not apply to local members other than local miscellaneous members employed before July 1, 1980, by a school district that is a contracting agency or those school safety members employed before July 1, 1980, by a contracting agency that is a school district or community college district, as defined in subdivision (i) of Section 20057.
140115
141116
142117
143-(c)County peace officer does not include any officer or employee who is a local sheriff, as defined in Section 20432.5.
118+(d)This section shall not apply to any of the following:
144119
145120
146121
122+(1)A person who becomes a school member on and after July 1, 1980, and any person who becomes a local member employed, on and after July 1, 1980, by a school district that is a contracting agency whether or not the person was ever a school member or local member prior to that date.
147123
148124
149125
126+(2)A state employee, with respect to sick leave credits earned as a state member under Section 21353.5, except that the member shall be entitled to receive credit under this section for the sick leave the member has earned as a state member subject to any other retirement formula, provided the member has a sick leave credit balance remaining at the time of retirement.
150127
151-Upon the industrial disability retirement of a state miscellaneous member subject to Section 21151, the disability allowance shall be 50 percent of the members final compensation plus an annuity purchased with the members accumulated additional contributions, if any, or, if qualified for service retirement, the member shall receive service retirement allowance, if the allowance, after deducting the annuity, is greater.
128+
129+
130+(e)For the purposes of this section, sick leave benefits provided to state employees pursuant to the state sick leave system shall be construed to mean compensation paid to employees on approved leaves of absence because of sickness.