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PRESIDENT’S MESSAGE
page 3
Yogi Berra used to say that, “it ain’t over until it’s over” and I am not one to argue with a great baseball legend like Yogi. Let’s hope he is right and that IT is over! In the meantime, the staffs of our SACRS systems and the trustees are doing everything within their powers to lead and manage the way through these turbulent times.
As an association of twenty systems that represents approximately $90 Billion in trust fund assets and a membership of active and retirees of about 400,000, SACRS has an important role to play in supporting the efforts of our county systems. This role is reflected in the mission of SACRS which is, “to serve the 1937 ACT Retirement Systems by exchanging information, providing education and analyzing legislation.”
read more on page 3
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SECRETARY’S MESSAGE
page 9
Over the past year ACERA staff, like the staffs of other 1937 Act boards, have provided updates to board members regarding the Internal Revenue Service (IRS) decision that government pension plans must apply for a tax determination letter. Several Pension fund administrators formed an ad hoc committee of 1937 Act system administrators which, in coordination with tax counsel, has engaged in dialogue with the IRS. The goal of this committee was to formulate a uniform process to facilitate the application for tax determination letters from the IRS by all twenty 1937 Act Systems in compliance with the original deadline of the end of Cycle C, January 31, 2009. Throughout the course of these discussions, it appeared that the IRS was considering several changes to its current processes that would justify ACERA dedicating resources towards preparing an application by the end of January.
read more on page 7
page 10
SACRS –SPONSORED LEGISLATION
All of the SACRS legislative proposals were submitted to Legislative Counsel by the deadline to do so at the end of January. Legislative Counsel has provided us with drafts for all of the SACRS proposals. We are of course endeavoring to obtain the very best authors for the SACRS legislative proposals. Unfortunately, the protracted stalemate on the state budget has significantly impacted the overall ability of legislators to commit to carrying any pieces of legislation in 2009. Very few bills have been introduced as of the third week in February –despite the fact that the deadline for the introduction of bills is Friday, February 27. However, we expect to have authors for every SACRS proposal and will provide the membership with bill numbers as soon as the bills are formally introduced.
read more on page 10
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System Members
see all of our member counties
SACRS/UC Berkeley Program 2009
UC Berkeley Haas School of Business
June 22 - 24, 2009
Program Application
Agenda
SACRS 2009 Legislation
Final Public Employee Post‑Employment Benefits Commission Report
Executive Summary
SACRS News
RSS Feed
2009 County Employees Retirement Law (1937 Act)
Part One:
Sections 31450-31499.19
Part Two:
Sections 31500-31706
Part Three:
Sections 31720-31899.10
1937 Act Law Book Order Form
Want to know more about Receiving & Reporting Gifts?
Form 700, Reference Pamphlet
SACRS Membership Roster Order Form
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