Bill Text: CA SB637 | 2011-2012 | Regular Session | Chaptered

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Bill Title: County employees' retirement: board of investment:

Spectrum: Bipartisan Bill

Status: (Passed) 2011-07-01 - Chaptered by Secretary of State. Chapter 48, Statutes of 2011. [SB637 Detail]

Download: California-2011-SB637-Chaptered.html

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BILL NUMBER: SB 637	CHAPTERED
	BILL TEXT

	CHAPTER  48
	FILED WITH SECRETARY OF STATE  JULY 1, 2011
	APPROVED BY GOVERNOR  JUNE 29, 2011
	PASSED THE SENATE  APRIL 25, 2011
	PASSED THE ASSEMBLY  JUNE 15, 2011

INTRODUCED BY   Committee on Public Employment and Retirement
(Senators Negrete McLeod (Chair), Gaines, Padilla, Vargas, and
Walters)

                        FEBRUARY 18, 2011

   An act to amend Sections 31459.1 and 31535.1 of the Government
Code, relating to county employees' retirement.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 637, Committee on Public Employment and Retirement. County
employees' retirement: board of investment: powers.
   The County Employees Retirement Act of 1937 prescribes the rights,
benefits, and duties of members of the retirement systems
established pursuant to its provisions. The act vests the management
of these systems in a retirement board except in certain instances in
which certain functions may be delegated to a board of investment.
The act permits the retirement system of a county that exceeds a
specified threshold of assets to form a board of investment which is
responsible for all investments of the system. Existing law,
applicable to Los Angeles County, authorizes a board of retirement to
exercise the power to issue subpoenas and subpoenas duces tecum, and
to compensate persons subpoenaed, as specified, for matters within
the board's jurisdiction.
   This bill would extend the power to issue subpoenas and subpoenas
duces tecum, and to compensate persons subpoenaed, described above,
to the Board of Investment of the Los Angeles County Employees
Retirement Association.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 31459.1 of the Government Code is amended to
read:
   31459.1.  (a) In a county in which a board of investments has been
established pursuant to Section 31520.2:
   (1) As used in Sections 31453, 31453.5, 31454, 31454.1, 31454.5,
31472, 31588.1, 31589.1, 31591, 31592.3, 31594, 31595.1, 31595.9,
31596, 31596.1, 31601.1, 31607, 31610, 31611, 31612, 31613, 31616,
31618, 31621.11, 31625, 31639.26, 31784, and 31872, "board" means
board of investments.
   (2) As used in the first paragraph of Section 31592.2 and the
first paragraph and subdivision (c) of the second paragraph of
Section 31595, "board" means a board of investments.
   (3) Sections 31521, 31522, 31522.1, 31522.2, 31523, 31524, 31525,
31528, 31529, 31529.5, 31535.1, 31580.2, 31614, 31680, and 31680.1,
apply to both the board of retirement and board of investments, and
"board" means either or both the board of retirement and board of
investments.
   (4) Subdivision (a) of Section 31526 and subdivisions (a) and (b)
of the second paragraph of Section 31595 apply to both the board of
retirement and board of investments, and "board" means either or both
the board of retirement and board of investments.
   (b) In Article 17 (commencing with Section 31880) of this chapter,
"board" means the Board of Administration of the Public Employees'
Retirement System.
   (c) In all other cases, "board" means the board of retirement.
   (d) This section shall apply only in a county of the first class,
as defined in Section 28020, as amended by Chapter 1204 of the
Statutes of 1971, and Section 28022, as amended by Chapter 43 of the
Statutes of 1961.
  SEC. 2.  Section 31535.1 of the Government Code is amended to read:

   31535.1.  The board may issue subpoenas and subpoenas duces tecum,
and compensate persons subpoenaed. This power shall be exercised and
enforced in the same manner as the similar power granted the board
of supervisors in Article 9 (commencing with Section 25170) of
Chapter 1 of Part 2 of Division 2 of this title; except that the
power shall extend only to matters within the board's jurisdiction,
and committees of the board shall not have this power. Reasonable
fees and expenses may be provided for by board regulation for any or
all of the witnesses regardless of which party subpoenaed them.
   Subpoenas shall be signed by the chairman or secretary of the
board, except that the board may by regulation provide for express
written delegation of its subpoena power to the retirement
administrator or to any referee it appoints pursuant to this chapter.

   Any member of the board, the referee, or any person otherwise
empowered to issue subpoenas may administer oaths to, or take
depositions from, witnesses before the board or referee.
   This section shall apply only in a county of the first class, as
defined by Section 28020, as amended by Chapter 1204 of the Statutes
of 1971, and Section 28022, as amended by Chapter 43 of the Statutes
of 1961.