The Public Employees' Retirement Law provides a defined benefit to members of the Public Employees' Retirement System (PERS) based on age at retirement, service credit, and final compensation, as those terms are defined. The management and control of PERS is vested in the Board of Administration of PERS, including the calculation of the contribution rates for specified state employees and state employers. Existing law requires the board to submit a report to the Legislature, the Governor, and the Treasurer describing the investment return assumptions, discount rates, and amortization periods utilized by the board in the calculations of the contribution rates and to include recalculations of those rates based on specified adjustments of the investment return assumptions, amortization periods, and discount rates utilized by the board any time it calculates the contribution rates. Existing law requires the Treasurer, within 30 days following receipt of the report, to provide each house of the Legislature, at a publicly noticed floor session, with an explanation of the role played by the investment return assumption and amortization period in the calculation of the contribution rates and the consequences for future state budgets if the investment return assumptions are not realized, to report whether the board's amortization period exceeds the estimated average remaining service periods of employees covered by the contributions, and to express his or her opinion of the reasonableness of the board's calculation of the contribution rates.
California AB 1247 (20112012) — Public retirement systems: reporting.
The Public Employees' Retirement Law provides a defined benefit to members of the Public Employees' Retirement System (PERS) based on age at retirement, service credit, and final compensation, as those terms are defined. The management and control of PERS is vested in the Board of Administration of PERS, including the calculation of the contribution rates for specified state employees and state employers. Existing law requires the board to submit a report to the Legislature, the Governor, and the Treasurer describing the investment return assumptions, discount rates, and amortization periods utilized by the board in the calculations of the contribution rates and to include recalculations of those rates based on specified adjustments of the investment return assumptions, amortization periods, and discount rates utilized by the board any time it calculates the contribution rates. Existing law requires the Treasurer, within 30 days following receipt of the report, to provide each house of the Legislature, at a publicly noticed floor session, with an explanation of the role played by the investment return assumption and amortization period in the calculation of the contribution rates and the consequences for future state budgets if the investment return assumptions are not realized, to report whether the board's amortization period exceeds the estimated average remaining service periods of employees covered by the contributions, and to express his or her opinion of the reasonableness of the board's calculation of the contribution rates.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Special Consent #8 AB1247 Fletcher By Blakeslee — 34–0 (pass) · upper
AB 1247 FLETCHER Concurrence in Senate Amendments — 76–0 (pass) · lower
Do pass as amended and be re-referred to the Committee on Appropriations. — 6–0 (pass) · lower
AB 1247 FLETCHER Consent Calendar Second Day — 75–0 (pass) · lower
Do pass, to Consent Calendar. — 17–0 (pass) · lower
Do pass, but re-refer to the Committee on Appropriations. — 5–0 (pass) · upper
Sponsors
Fletcher — primary (person)
Timeline
The legislative action history — every referral, reading, and vote.
2011-02-18 Read first time. To print. reading-1
2011-02-20 From printer. May be heard in committee March 22.
2011-03-31 Referred to Com. on P.E., R. & S.S. referral-committee
2011-03-31 From committee chair, with author's amendments: Amend, and re-refer to Com. on P.E., R. & S.S. Read second time and amended. reading-2, amendment-introduction, reading-1, amendment-passage
2011-04-04 Re-referred to Com. on P.E., R. & S.S. referral-committee
2011-04-25 From committee chair, with author's amendments: Amend, and re-refer to Com. on P.E., R. & S.S. Read second time and amended. reading-2, amendment-introduction, reading-1, amendment-passage
2011-04-26 Re-referred to Com. on P.E., R. & S.S. referral-committee
2011-05-05 From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (May 4). amendment-passage, committee-passage, committee-passage-favorable
2011-05-09 Read second time and amended. reading-2, reading-1, amendment-passage
2011-05-10 Re-referred to Com. on APPR. referral-committee
2011-05-18 From committee: Do pass. To consent calendar. (Ayes 17. Noes 0.) (May 18). committee-passage, committee-passage-favorable
2011-05-19 Read second time. Ordered to consent calendar. reading-2, reading-1
2011-05-26 Read third time. Passed. Ordered to the Senate. (Ayes 75. Noes 0. Page 1565.) reading-3, reading-1, passage
2011-05-26 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2011-06-02 Referred to Com. on P.E. & R. referral-committee
2011-06-22 From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on P.E. & R. reading-2, amendment-introduction, reading-1, amendment-passage, referral-committee
2011-06-28 From committee: Do pass and re-refer to Com. on APPR. (Ayes 5. Noes 0.) (June 27). Re-referred to Com. on APPR. referral-committee, committee-passage, committee-passage-favorable
2011-08-15 From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and be amended. committee-passage, amendment-passage
2011-08-16 Read second time and amended. Ordered to third reading. reading-2, reading-1, amendment-passage
2011-08-17 Ordered to special consent calendar.
2011-08-22 Read third time. Passed. Ordered to the Assembly. (Ayes 34. Noes 0. Page 2019.). reading-3, reading-1, passage
2011-08-22 In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 24 pursuant to Assembly Rule 77.
2011-08-25 Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 76. Noes 0. Page 2564.). committee-passage-favorable, amendment-passage
2011-08-31 Enrolled and presented to the Governor at 1:30 p.m.
2011-10-09 Approved by the Governor. executive-signature
2011-10-09 Chaptered by Secretary of State - Chapter 733, Statutes of 2011.
Source
OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/c3e30310-1a41-4bdc-811f-65e92a2b1638. Confidence: reported (aggregated from official California legislature records).
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