County employees’ retirement: administration: retirement board member compensation for meetings., the official text

An act to amend Section 31521 of the Government Code, relating to public employees’ retirement.

LEGISLATIVE COUNSEL'S DIGEST

Existing law, the County Employees Retirement Law of 1937, authorizes counties to establish retirement systems pursuant to its provisions in order to provide pension benefits to county, city, and district employees and their beneficiaries. Existing law sets forth the membership composition for boards of retirement and boards of investment, as specified. Existing law authorizes the board of supervisors for counties for which these provisions apply to provide that certain members of these boards shall receive compensation at a rate of not more than $100 for a meeting or for a meeting of a committee authorized by the entire board.
This bill would authorize the board of supervisors to adopt a provision that would authorize the board of retirement to increase the above-described compensation limit by an amount not to exceed 5% of the rate for each calendar year following the operative date of the last adjustment.

The people of the State of California do enact as follows:

SECTION 1.
Section 31521 of the Government Code is amended to read:
31521.
(a) The board of supervisors may provide that the fourth and fifth members, and in counties having a board consisting of nine members or nine members and an alternate retired member, the fourth, fifth, sixth, eighth, ninth, and alternate retired members, and in counties having a board of investments under Section 31520.2, the fifth, sixth, seventh, eighth, and ninth members of the board of investments, shall receive compensation at a rate of not more than one hundred dollars ($100) for a meeting, or for a meeting of a committee authorized by the board, for not more than five meetings per month, together with actual and necessary expenses for all members of the board.
(b) The compensation limit established by the board of supervisors pursuant to subdivision (a) may be increased by the board of retirement by an amount not to exceed 5 percent of the rate for each calendar year following the operative date of the last adjustment. This subdivision shall not be operative in any county until it is adopted by a majority vote of the board of supervisors.