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PRESIDENT’S MESSAGE
page 3
California Governor Schwarzenegger created a bipartisan Commission on Public Employee's Post-Employment Benefits in January 2007. This Commission was tasked with two things: (a) Identify the full amount of post-employment health care and dental benefits for which California governments are liable and which remain unfunded, and (b) Make recommendations to the Governor by January 2008 that address unfunded pensions and retiree health care obligations.
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SECRETARY’S MESSAGE
page 7
The Orange County Employees Retirement System (OCERS) welcomed a new Chief Executive Officer (CEO) aboard at the beginning of January. Mr. Steve Delaney was hired by the OCERS Board of Retirement after a seven-month long nationwide search process that was conducted with the assistance of EFL Associates, a national executive firm.
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LEGISLATIVE UPDATE
page 6
AB 246 (Torrico) 1937 Act Trustee Marketing Prohibition This measure was signed into law on October 8, 2007 and effective January 1, 2008, prohibits a 1937 Act Trustee who is a financial services professional from marketing his or her company's products and services to the other 19 systems. The enforcement of this measure was a topic of the Administrator's Break-out at the November conference. Approaches were varied on active enforcement by a retirement system of one's own trustees and trustees of other systems who may violate the provisions of the new statute. The consensus was the bill created dilemmas for 37 Act systems since enforcement was intentionally omitted from the language and it remains unclear exactly how each 37 Act system will address implementation of the bill.
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System Members
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SACRS 2008 Legislation
SACRS Public Pension Investment
Mgmt. Program
June 16 - 18, 2008
Online Prog. Application
Program Information
Program Agenda
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Final Public Employee Post‑Employment Benefits Commission Report
Executive Summary
SACRS News
RSS Feed
2008 County Employees Retirement Law (1937 Act)
Part One:
Sections 31450-31607
Part Two:
Sections 31610-31768
Part Three:
Sections 31770-31899.10
1937 Act Law Book Order Form
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Form 700, Reference Pamphlet
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