LEGISLATIVE COUNSEL'S DIGEST


SB 11, as introduced, Negrete McLeod. County employees retirement:
San Bernardino County health benefits.
The County Employees Retirement Law of 1937 authorizes the board
of supervisors of a county to provide for the contributions of funds
for, and the retirement system to establish, a Post-Employment
Benefits Trust Account as a part of the retirement fund. Existing law
vests, except as specified, the management of a county retirement
system in a county board of retirement.
This bill would authorize the board of retirement of San
Bernardino County to establish by resolution a fund for the
collective investment of assets held in trust solely for the
exclusive benefit of providing health benefits to employees of any
local public agency, as specified. The fund would be a legal entity
that is separate from the retirement system, and would be governed by
a postemployment health benefits fund board that would be composed
of the members of the board of retirement. The bill would direct the
postemployment health benefits fund board to establish the terms and
conditions for a public agency to participate in the fund. The bill
would also authorize the board of retirement to terminate the fund in
its discretion at any time, in a specified manner.