SDCERA’s legislation section helps to keep you informed about recently proposed, chaptered, adopted and vetoed legislation that may have an impact on your retirement benefits. For the most current details on these or other bills, click the link to California’s legislative information website.

Bills chaptered (signed into law)
The following bills were signed into law and became effective January 1, 2012, unless otherwise noted.

SB 203—Regulates County Board of Retirement Alternates
This bill addresses Alternate Board Members' rights, privileges, and responsibilities that were redefined in SB 414 of the prior legislative session. It authorizes access to closed sessions and holding positions on committees of the Board, and deletes the authority of the Board of Retirement to prohibit by resolution or regulation, the participation of Alternate Board Members in activities.

SB 398—Placement Agents and External Investment Managers—Urgency Bill
(Amends Sections 7513.8, 7513.87, 82025.3, and 82047.3)
Effective October 1, 2011.
This bill clarifies the definition of placement agent and external manager provisions of AB 1743, Chapter, 668, Statutes of 2010. Revised definitions address unintended consequences that could have been interpreted to include broker dealers engaged in general securities transactions with retirement systems.

Other law changes

Proposition 8—Elimination of same-sex marriage
Proposition 8 was approved by voters in November 2008 and affects SDCERA’s survivor benefits. For the purposes of providing SDCERA survivor benefits, a same-sex marriage conducted in California on or before November 4, 2008, is a valid marriage. However, unless a court, the Attorney General or the Board of Retirement makes a decision to the contrary, an out-of-state marriage certificate first submitted to SDCERA on or after November 5, 2008, cannot be honored regardless of the date of marriage. SDCERA will continue to recognize domestic partnerships registered with the Secretary of State of California.