AB 1291: The County Employees Retirement Law of 1937.

Existing law, the County Employees Retirement Law of 1937, authorizes counties to establish retirement systems, as specified, in order to provide pension benefits to county, city, and district employees. Existing law defines a district for these purposes and includes specified county retirement systems within the definition.

This bill would include the retirement system established under these provisions in the County of Ventura within the definition of district.

The County Employees Retirement Law of 1937 also authorizes the board of retirement, in a county in which the board has appointed administrative, technical, and clerical staff personnel, to also appoint other administrators, managers, and legal counsel, as specified. These appointees are not classified as county employees and are therefor not subject to the civil service system, but are employees of the retirement system subject to the terms of employment determined by the board of retirement.

This bill would authorize the board of retirement of Ventura County to appoint a retirement administrator, chief financial officer, chief operations officer, chief investment officer, and general counsel. The bill would require these appointees to be employees of the retirement system, and not of the county, and subject to terms and conditions of employment established by the board of retirement. The bill would provide that the compensation of these appointees is an expense of the administration of the retirement system. The bill would grant the board of retirement and the board of supervisors authority to enter into agreements necessary to implement its provisions and would except the retirement system from specified requirements relating to retirement administrators. The bill would provide that these provisions apply to the Ventura County retirement system only upon adoption of a specified resolution by the board of retirement. The bill would make conforming changes.