California 2011-2012 Regular Session Status: Enacted

SB 294 — Public employees' retirement: emerging investment managers.

Last action — Chaptered by Secretary of State. Chapter 701, Statutes of 2011.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 14, 2011. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 6 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

The Public Employees' Retirement Law creates the Public Employees' Retirement Fund, which is a trust fund created and administered solely for the benefit of the members and retired members of this system and their survivors and beneficiaries. The Board of Administration of the Public Employees' Retirement System has the exclusive control of the administration and investment of the retirement fund. The Teachers' Retirement Law establishes the State Teachers' Retirement System in order to provide a financially sound plan for the retirement, with adequate retirement allowances, for teachers in public schools of the state, teachers in schools supported by the state, and other persons employed in connection with the schools. The plan and the system are 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 5-year strategic plan, as specified, for emerging investment manager participation across all asset classes. The bill would require each of the boards to submit an annual report to the Legislature, until January 1, 2018, regarding the progress of the strategic plan. The bill would require the boards to define "emerging investment manager" for purposes of these provisions.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 701, Statutes of 2011.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 3:30 p.m.

  4. In Senate. Ordered to engrossing and enrolling.

  5. Read third time. Passed. (Ayes 51. Noes 27. Page 2997.) Ordered to the Senate.

  6. Read second time. Ordered to third reading.

  7. From committee: Do pass. (Ayes 12. Noes 5.) (August 25).

  8. Set, first hearing. Referred to APPR. suspense file.

  9. From committee: Do pass and re-refer to Com. on APPR. (Ayes 4. Noes 1.) (June 22). Re-referred to Com. on APPR.

  10. Referred to Com. on P.E., R. & S.S.

  11. In Assembly. Read first time. Held at Desk.

  12. Read third time. Passed. (Ayes 24. Noes 11. Page 1190.) Ordered to the Assembly.

  13. Read second time. Ordered to third reading.

  14. From committee: Do pass. (Ayes 6. Noes 3. Page 1085.) (May 23).

  15. Set for hearing May 23.

  16. Read second time and amended. Re-referred to Com. on APPR.

  17. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 4. Noes 1. Page 809.) (May 2).

  18. Set for hearing May 2.

  19. Re-referred to Com. on P.E. & R.

  20. From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  21. Referred to Com. on RLS.

  22. From printer. May be acted upon on or after March 17.

  23. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Price · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on · 5 voted No

Sponsors (1)

  • Price

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

SB 294 Price Senate Third Reading By DAVIS

Passed 51 Yea · 27 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 0200
Unaffiliated 502502
Democratic 1000
Total 512702
% of votes cast 64%34%0%3%
How each member voted (80)
Member Party Vote
Feuer — Yea
Butler — Yea
Galgiani — Yea
Gatto — Yea
Gordon — Yea
Hall — Yea
Hill — Yea
Carter — Yea
Huber — Yea
Hueso — Yea
Huffman — Yea
Fong — Yea
Allen — Yea
Cedillo — Yea
Portantino — Yea
John A. Pérez — Yea
Mitchell — Yea
Ammiano — Yea
Chesbro — Yea
Davis — Yea
Swanson — Yea
Torres — Yea
Williams — Yea
Campos — Yea
Bonilla — Yea
Atkins — Yea
Furutani — Not Voting
Garrick — Nay
Fletcher — Nay
Gorell — Not Voting
Hagman — Nay
Halderman — Nay
Conway — Nay
Knight — Nay
Beall — Yea
Cook — Nay
Dickinson — Yea
Donnelly — Nay
Lara — Yea
Logue — Nay
Mendoza — Yea
Miller — Nay
Monning — Yea
Nestande — Nay
Nielsen — Nay
Norby — Nay
Pan — Yea
Silva — Nay
Solorio — Yea
Valadao — Nay
Wieckowski — Yea
Achadjian — Nay
Alejo — Yea
Block — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Nay
Hayashi — Yea
Jeffries — Nay
Ma — Yea
Mansoor — Nay
Morrell — Nay
Olsen — Nay
Perea — Yea
Skinner — Yea
Smyth — Nay
Wagner — Nay
Eng — Yea
Yamada — Yea
Fuentes — Yea
Beth Gaines — Nay
Bill Berryhill — Nay
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Nay
Jones, Brian W. Republican Nay

Official roll call →

Do pass.

Passed 12 Yea · 5 Nay
Party YeaNayPresentNot Voting
Unaffiliated 11500
Democratic 1000
Total 12500
% of votes cast 71%29%0%0%
How each member voted (17)
Member Party Vote
Campos — Yea
Fuentes — Yea
Hall — Yea
Mitchell — Yea
Lara — Yea
Nielsen — Nay
Norby — Nay
Blumenfield — Yea
Donnelly — Nay
Solorio — Yea
Bradford — Yea
Harkey — Nay
Hill — Yea
Wagner — Nay
Davis — Yea
Gatto — Yea
Calderon, Lisa Democratic Yea

Official roll call →

3rd Reading

Passed 24 Yea · 11 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 221005
Democratic 2000
Republican 0100
Total 241105
% of votes cast 60%28%0%13%
How each member voted (40)
Member Party Vote
Yee — Yea
Wyland — Nay
Fuller — Nay
Lowenthal — Yea
De León — Yea
Hancock — Yea
Negrete McLeod — Yea
Rubio — Yea
Cannella — Nay
Harman — Nay
Corbett — Yea
Hernandez — Yea
Huff — Nay
Runner — Nay
Correa — Not Voting
Dutton — Nay
Walters — Nay
Kehoe — Yea
Lieu — Yea
Pavley — Yea
Price — Yea
Simitian — Yea
Vargas — Yea
Wolk — Yea
Alquist — Yea
Anderson — Nay
Blakeslee — Nay
Leno — Yea
Liu — Yea
Steinberg — Yea
Wright — Yea
Emmerson — Not Voting
Evans — Yea
DeSaulnier — Yea
Beth Gaines — Not Voting
Bill Berryhill — Not Voting
La Malfa — Not Voting
Calderon, Lisa Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Nay

Official roll call →

Do pass.

Passed 6 Yea · 3 Nay
Party YeaNayPresentNot Voting
Unaffiliated 6300
Total 6300
% of votes cast 67%33%0%0%
How each member voted (9)
Member Party Vote
Runner — Nay
Kehoe — Yea
Pavley — Yea
Walters — Nay
Alquist — Yea
Lieu — Yea
Price — Yea
Steinberg — Yea
Emmerson — Nay

Official roll call →

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 294 do?
The Public Employees' Retirement Law creates the Public Employees' Retirement Fund, which is a trust fund created and administered solely for the benefit of the members and retired members of this system and their survivors and beneficiaries. The Board of Administration of the Public Employees' Retirement System has the exclusive control of the administration and investment of the retirement fund. The Teachers' Retirement Law establishes the State Teachers' Retirement System in order to provide a financially sound plan for the retirement, with adequate retirement allowances, for teachers in public schools of the state, teachers in schools supported by the state, and other persons employed in connection with the schools. The plan and the system are 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 5-year strategic plan, as specified, for emerging investment manager participation across all asset classes. The bill would require each of the boards to submit an annual report to the Legislature, until January 1, 2018, regarding the progress of the strategic plan. The bill would require the boards to define "emerging investment manager" for purposes of these provisions.
Who sponsors SB 294?
SB 294 is sponsored by Price.
What is the current status of SB 294?
This bill has been enacted into law. Introduced February 14, 2011. Enacted.
Where can I track SB 294?
Track SB 294 free on One Click Politics — get push/email alerts when it moves.

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