Assembly Bill 895 (Bee – 1972)
Chapter 520, Statutes of 1972 - AB 895
Government Code section 31592.2 was amended in 1972 following legislative passage of Assembly Bill 895, which affected this section only. (See Exhibit #1b) Assembly member Carlos Bee introduced the bill on March 13, 1972 at the request of Walter Kaitz; California Public Employees Federation. (See Exhibits #1a, #4, and #6, document SP-1)
Assembly Bill 895 was heard by the Assembly Committee on Retirement and the Senate Committee on Governmental Organization. (See Exhibits #2, #3, and #4) No amendments were made to the bill and it was approved in the Legislature by unanimous vote. (See Exhibits #1, #2, and #7, document PE-1) Assembly Bill 895 was signed by Governor Ronald Reagan and recorded by the Secretary of State on July 28, 1972 as Chapter 520 of the Statutes of 1972. (See Exhibits #1b and #2)
A detailed description of the bill was provided in the Enrolled Bill Report of the Public Employees' Retirement System Board as follows:
Extends to all counties maintaining a retirement system under the County Employees’ Retirement Law of 1937, rather than only the “fixed formula” counties, a provision authorizing transfer of excess interest earnings, within specified limits, to the county advance reserve which reserve is available for liability for retirement benefits and may be made available by the retirement board for payment of premiums for health benefit plans, medicare, payment of accrued sick leave at retirement.
(See Exhibit #7, document PE-3)