SCA 1 — A resolution to propose to the people of the State of California an amendment to the Constitution of the State, by adding Section 17.5 to Article XVI thereof, relating to retirement savings plans.
Last action — June 26 set for first hearing. Failed passage in committee. (Ayes 2. Noes 3. Page 1754.)
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed Assembly
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5To Executive
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6Enacted
This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Existing law establishes the California Secure Choice Retirement Savings Program and requires the California Secure Choice Retirement Savings Investment Board to design and implement the program according to specified parameters and requirements, including, among others, that the program include one or more payroll deduction IRA arrangements. If certain prerequisites are met and the program is opened for enrollment, existing law eventually requires all eligible employers, as defined, that do not offer employer-sponsored retirement plans or automatic enrollment payroll deduction IRAs to have payroll deposit retirement savings arrangements so that eligible employees may participate in the program. Existing law specifies that funding for startup and first-year administrative costs for the program may be appropriated in the annual Budget Act from the General Fund and requires the board to repay the amount appropriated, plus interest, as specified. This measure would prohibit the state from incurring any liability for payment of the retirement savings benefit earned by program participants in the California Secure Choice Retirement Savings Program. The measure would also prohibit the appropriation, transfer, or encumbrance of moneys in the General Fund for the purposes of the program, including any unfunded liability that the program may incur, unless the appropriation, transfer, or encumbrance is for funding the startup and first-year administrative costs for the program.
Bill Text
What changed in the latest version
1 added · 1 removed1 line(s) added, 1 removed.
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- Introduced 12/05/16 - Introduced Current pdf December 05, 2016
- SCA1 View text html
Action History
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June 26 set for first hearing. Failed passage in committee. (Ayes 2. Noes 3. Page 1754.)
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Set for hearing June 26.
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Referred to Coms. on P.E. & R. and E. & C.A.
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From printer. May be acted upon on or after January 5.
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Introduced. Read first time. To Com. on RLS. for assignment. To print.
Sponsors
- Moorlach · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 121 not signed on
Sponsors (1)
- Moorlach
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.
Subjects
Frequently asked questions
- What does SCA 1 do?
- Existing law establishes the California Secure Choice Retirement Savings Program and requires the California Secure Choice Retirement Savings Investment Board to design and implement the program according to specified parameters and requirements, including, among others, that the program include one or more payroll deduction IRA arrangements. If certain prerequisites are met and the program is opened for enrollment, existing law eventually requires all eligible employers, as defined, that do not offer employer-sponsored retirement plans or automatic enrollment payroll deduction IRAs to have payroll deposit retirement savings arrangements so that eligible employees may participate in the program. Existing law specifies that funding for startup and first-year administrative costs for the program may be appropriated in the annual Budget Act from the General Fund and requires the board to repay the amount appropriated, plus interest, as specified. This measure would prohibit the state from incurring any liability for payment of the retirement savings benefit earned by program participants in the California Secure Choice Retirement Savings Program. The measure would also prohibit the appropriation, transfer, or encumbrance of moneys in the General Fund for the purposes of the program, including any unfunded liability that the program may incur, unless the appropriation, transfer, or encumbrance is for funding the startup and first-year administrative costs for the program.
- Who sponsors SCA 1?
- SCA 1 is sponsored by Moorlach.
- What is the current status of SCA 1?
- This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SCA 1?
- Track SCA 1 free on One Click Politics — get push/email alerts when it moves.
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