California 2021-2022 Regular Session Status: Enacted 1 D cosponsors

AB 539 — State teachers' retirement: investment managers and investment advisers: contracts.

Last action — Chaptered by Secretary of State - Chapter 619, Statutes of 2021.

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

This bill has been enacted into law. Introduced February 10, 2021. Enacted.

Prognosis

Likely to advance 74% · 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.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 5 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 California Constitution provides that the civil service includes every officer and employee in the state except as otherwise provided in the Constitution, and existing statutory law, the State Civil Service Act, prescribes a comprehensive civil service personnel system for the state. Existing law, the Teachers' Retirement Law, establishes the State Teachers' Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers' Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS is administered by the Teachers' Retirement Board. Existing law authorizes the board, upon a finding by the board that necessary investment expertise is not available within existing civil service classifications, and with approval of the State Personnel Board, to contract with qualified investment managers, as provided. This bill would additionally authorize the board to contract with investment advisers, as defined, upon the same finding by the board and approval by the State Personnel Board. The bill would, pursuant to a policy adopted by the board, authorize the board to establish a competitive bidding process and to specify the contract terms and conditions the board solely deems necessary and prudent to contract with qualified investment managers and investment advisers.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 619, Statutes of 2021.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 5 p.m.

  4. In Assembly. Ordered to Engrossing and Enrolling.

  5. Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 2483.).

  6. Read second time. Ordered to third reading.

  7. From committee: Be ordered to second reading pursuant to Senate Rule 28.8.

  8. In committee: Hearing postponed by committee.

  9. From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0.) (June 21). Re-referred to Com. on APPR.

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

  11. In Senate. Read first time. To Com. on RLS. for assignment.

  12. Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 1336.)

  13. Read second time. Ordered to Consent Calendar.

  14. From committee: Do pass. To Consent Calendar. (Ayes 16. Noes 0.) (April 28).

  15. From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 15). Re-referred to Com. on APPR.

  16. Coauthors revised.

  17. Referred to Com. on P.E. & R.

  18. From printer. May be heard in committee March 13.

  19. Read first time. To print.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 1 co-sponsors · 120 not signed on

Sponsors (1)

  • Cooley

Co-sponsors (1)

Not signed on (120)

120 members have not signed on to this bill.

Show all 120 →

"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

3rd Reading AB539 Cooley et al. By Cortese

Passed 37 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 21002
Democratic 12001
Republican 4000
Total 37003
% of votes cast 93%0%0%8%
How each member voted (40)
Member Party Vote
Bates — Yea
Kamlager — Yea
Wilk — Yea
Leyva — Yea
Rubio — Yea
Hertzberg — Yea
Pan — Yea
Bradford — Yea
Gonzalez — Yea
Skinner — Yea
Glazer — Yea
Melendez — Yea
Min — Yea
Portantino — Yea
Atkins — Yea
Dodd — Yea
Roth — Yea
Wieckowski — Yea
Hueso — Yea
Nielsen — Yea
Newman — Yea
Eggman — Not Voting
Borgeas — Not Voting
Allen, Benjamin Democratic Yea
Archuleta, Bob Democratic Yea
Becker, Josh Democratic Yea
Caballero, Anna M. Democratic Yea
Cortese, Dave Democratic Yea
Durazo, Maria Elena Democratic Yea
Hurtado, Melissa Democratic Yea
Laird, John Democratic Yea
Limón, Monique Democratic Yea
McGuire, Mike Democratic Yea
Stern, Henry I. Democratic Not Voting
Umberg, Thomas J. Democratic Yea
Wiener, Scott D. Democratic Yea
Dahle, Megan Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Ochoa Bogh, Rosilicie Republican Yea

Official roll call →

AB 539 Cooley Consent Calendar Second Day

Passed 77 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democratic 27000
Unaffiliated 40001
Republican 10000
Total 77001
% of votes cast 99%0%0%1%
How each member voted (78)
Member Party Vote
Bloom — Yea
Holden — Yea
Jones-Sawyer — Yea
Wood — Yea
Smith — Yea
Cunningham — Yea
Cooper — Yea
Voepel — Yea
Cooley — Yea
Maienschein — Yea
Rodriguez — Yea
Kiley — Yea
Nazarian — Yea
Daly — Yea
Gray — Yea
Burke — Yea
Mathis — Yea
Santiago — Yea
Mayes — Yea
Frazier — Yea
Chau — Yea
Mullin — Not Voting
Ting — Yea
O'Donnell — Yea
Waldron — Yea
Medina — Yea
McCarty — Yea
Friedman — Yea
Bigelow — Yea
Chiu — Yea
Rendon — Yea
Villapudua — Yea
Salas — Yea
Quirk — Yea
Low — Yea
Levine — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Lorena Gonzalez — Yea
Luz Rivas — Yea
Mark Stone — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Bauer-Kahan, Rebecca Democratic Yea
Bennett, Steve Democratic Yea
Berman, Marc Democratic Yea
Boerner, Tasha Democratic Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Cervantes, Sabrina Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Yea
Lee, Alex Democratic Yea
Muratsuchi, Al Democratic Yea
Nguyen, Stephanie Democratic Yea
Petrie-Norris, Cottie Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Ramos, James C. Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Rivas, Robert Democratic Yea
Rubio, Blanca E. Democratic Yea
Ward, Christopher M. Democratic Yea
Weber Pierson, M.D., Akilah Democratic Yea
Wicks, Buffy Democratic Yea
Chen, Phillip Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Davies, Laurie Republican Yea
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Lackey, Tom Republican Yea
Patterson, Joe Republican Yea
Seyarto, Kelly Republican Yea
Valladares, Suzette Martinez Republican Yea

Official roll call →

Do pass. To Consent Calendar.

Passed 16 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 8000
Democratic 6000
Republican 2000
Total 16000
% of votes cast 100%0%0%0%
How each member voted (16)
Member Party Vote
Quirk — Yea
Nazarian — Yea
Bigelow — Yea
Chau — Yea
Levine — Yea
Bloom — Yea
Eduardo Garcia — Yea
Lorena Gonzalez — Yea
Calderon, Lisa Democratic Yea
Carrillo, Juan Democratic Yea
Fong, Mike Democratic Yea
Gabriel, Jesse Democratic Yea
Kalra, Ash Democratic Yea
Rivas, Robert Democratic Yea
Dahle, Megan Republican Yea
Davies, Laurie Republican Yea

Official roll call →

Subjects

finance labor education
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 AB 539 do?
The California Constitution provides that the civil service includes every officer and employee in the state except as otherwise provided in the Constitution, and existing statutory law, the State Civil Service Act, prescribes a comprehensive civil service personnel system for the state. Existing law, the Teachers' Retirement Law, establishes the State Teachers' Retirement System (STRS) and creates the Defined Benefit Program of the State Teachers' Retirement Plan, which provides a defined benefit to members of the program, based on final compensation, credited service, and age at retirement, subject to certain variations. STRS is administered by the Teachers' Retirement Board. Existing law authorizes the board, upon a finding by the board that necessary investment expertise is not available within existing civil service classifications, and with approval of the State Personnel Board, to contract with qualified investment managers, as provided. This bill would additionally authorize the board to contract with investment advisers, as defined, upon the same finding by the board and approval by the State Personnel Board. The bill would, pursuant to a policy adopted by the board, authorize the board to establish a competitive bidding process and to specify the contract terms and conditions the board solely deems necessary and prudent to contract with qualified investment managers and investment advisers.
Who sponsors AB 539?
AB 539 is sponsored by Cooley and Cervantes, Sabrina (Democratic).
What is the current status of AB 539?
This bill has been enacted into law. Introduced February 10, 2021. Enacted.
Where can I track AB 539?
Track AB 539 free on One Click Politics — get push/email alerts when it moves.

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