republic-os/legislation/us/states/ca/20152016/sb-216.md

---
type: "Bill"
title: "The Public Employees' Retirement System."
description: "(1) The Public Employees' Retirement Law (PERL) creates the Public Employees' Retirement System (PERS) for the purpose of providing pension benefits to specified public employees and prescribes the rights and duties of members and annuitants of the system. PERL vests management and control of PERS in the Board of Administration. The California Constitution and PERL grant the board control over the investment of the retirement fund subject to certain restrictions. PERL directs the board to invest not less than 25% of all funds that become available in a fiscal year for new investments in specified obligations and securities connected with residential realty, subject to the board's authority to substitute other investments consistent with its fiduciary obligations to the retirement system and standards for prudent investment. PERL requires the board to report on these investments."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20152016"
identifier: "SB 216"
citation: "California SB 216 (20152016)"
classification: ["bill"]
subjects: ["The Public Employees' Retirement System."]
status: "enacted"
primary_sponsors: ["Pan"]
version_count: 6
action_count: 23
vote_count: 6
first_action: "2015-02-12"
last_action: "2015-09-02"
source: "openstates"
source_identifier: "ocd-bill/02354728-4efe-4eed-bc7c-5c0ecda5ee64"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160SB216"
source_hash: "642304745f290980e0aa26040cf81d9c4ad35756dd5558d5892c941364c1b1b8"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California SB 216 (20152016) — The Public Employees' Retirement System.

(1) The Public Employees' Retirement Law (PERL) creates the Public Employees' Retirement System (PERS) for the purpose of providing pension benefits to specified public employees and prescribes the rights and duties of members and annuitants of the system. PERL vests management and control of PERS in the Board of Administration. The California Constitution and PERL grant the board control over the investment of the retirement fund subject to certain restrictions. PERL directs the board to invest not less than 25% of all funds that become available in a fiscal year for new investments in specified obligations and securities connected with residential realty, subject to the board's authority to substitute other investments consistent with its fiduciary obligations to the retirement system and standards for prudent investment. PERL requires the board to report on these investments.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **02/12/15 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB216&version=20150SB21699INT)
2. **04/21/15 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB216&version=20150SB21698AMD)
3. **06/03/15 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB216&version=20150SB21697AMD)
4. **09/02/15 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB216&version=20150SB21695CHP)
5. **SB216** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160SB216)
6. **08/24/15 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB216&version=20150SB21696ENR)

## Votes

- Consent Calendar 2nd — **34–0** (pass) · upper
- Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar — **5–0** (pass) · upper
- Do pass. To Consent Calendar. — **14–0** (pass) · lower
- Special Consent #6 — **38–0** (pass) · upper
- Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar — **6–0** (pass) · lower
- SB 216 Pan Consent Calendar Second Day — **79–0** (pass) · lower

## Sponsors

- Pan — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2015-02-12** Introduced. Read first time. To Com. on RLS. for assignment. To print. `introduction, reading-1`
- **2015-02-13** From printer. May be acted upon on or after March 15.
- **2015-02-26** Referred to Com. on P.E. & R. `referral-committee`
- **2015-03-25** Set for hearing April 13.
- **2015-04-14** From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 5. Noes 0. Page 593.) (April 13). Re-referred to Com. on APPR. `referral-committee, committee-passage-favorable, committee-passage`
- **2015-04-17** Set for hearing April 27.
- **2015-04-21** From committee with author's amendments. Read second time and amended. Re-referred to Com. on APPR. `referral-committee, reading-2, amendment-passage, committee-passage, reading-1`
- **2015-04-27** From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar. `committee-passage, reading-2`
- **2015-04-28** Read second time. Ordered to consent calendar. `reading-2, reading-1`
- **2015-04-30** Read third time. Passed. (Ayes 34. Noes 0. Page 843.) Ordered to the Assembly. `reading-3, passage, reading-1`
- **2015-04-30** In Assembly. Read first time. Held at Desk. `reading-1`
- **2015-05-14** Referred to Com. on P.E., R., & S.S. `referral-committee`
- **2015-06-03** From committee with author's amendments. Read second time and amended. Re-referred to Com. on P.E., R., & S.S. `referral-committee, reading-2, amendment-passage, committee-passage, reading-1`
- **2015-06-24** From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 6. Noes 0.) (June 24). Re-referred to Com. on APPR. `referral-committee, committee-passage-favorable, committee-passage`
- **2015-07-08** From committee: Do pass. Ordered to consent calendar. (Ayes 14. Noes 0.) (July 8). `committee-passage-favorable, committee-passage`
- **2015-07-09** Read second time. Ordered to consent calendar. `reading-2, reading-1`
- **2015-07-16** Read third time. Passed. (Ayes 79. Noes 0. Page 2432.) Ordered to the Senate. `reading-3, passage, reading-1`
- **2015-07-16** In Senate. Concurrence in Assembly amendments pending.
- **2015-08-19** Ordered to special consent calendar.
- **2015-08-20** Assembly amendments concurred in. (Ayes 38. Noes 0.) Ordered to engrossing and enrolling. `committee-passage-favorable, amendment-passage`
- **2015-08-26** Enrolled and presented to the Governor at 4:30 p.m.
- **2015-09-02** Approved by the Governor. `executive-signature`
- **2015-09-02** Chaptered by Secretary of State. Chapter 244, Statutes of 2015.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/02354728-4efe-4eed-bc7c-5c0ecda5ee64`. Confidence: reported (aggregated from official California legislature records).