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File #: 19-892    Version: 1 Name:
Type: Resolution Status: Passed
File created: 8/29/2019 Departments: RETIREMENT
On agenda: 9/17/2019 Final action: 9/17/2019
Title: Adopt a resolution approving amendments to the Board of Retirement Regulations 2.1,2.2, 2.3 of Article II Board Officers and Chief Executive Officer; Regulations 3.4 and 3.9 of Article III Meetings; Regulations 4.8,4.16,4.18,4.22 of Article IV Election of Trustees; Regulations 5.5, 5.7,5.10, 5.11, and adding Regulation 5.13 to Article V Membership Duties & Rights; Regulations 6.1,6.2,6.5 of Article VI Disability Retirement, and Regulation 8.8 of Article VIII Internal Revenue Compliance.
Attachments: 1. 20190917_r_Retirement Regulations.pdf
Special Notice / Hearing: None__
Vote Required: Majority

To: Honorable Board of Supervisors

From: Scott Hood, SamCERA (Retirement)

Subject: Amendments to the Board of Retirement Regulations


RECOMMENDATION:
title
Adopt a resolution approving amendments to the Board of Retirement Regulations 2.1,2.2, 2.3 of Article II Board Officers and Chief Executive Officer; Regulations 3.4 and 3.9 of Article III Meetings; Regulations 4.8,4.16,4.18,4.22 of Article IV Election of Trustees; Regulations 5.5, 5.7,5.10, 5.11, and adding Regulation 5.13 to Article V Membership Duties & Rights; Regulations 6.1,6.2,6.5 of Article VI Disability Retirement, and Regulation 8.8 of Article VIII Internal Revenue Compliance.

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BACKGROUND:
Government Code section 31525 authorizes the Board of Retirement (BOR) to adopt regulations and further provides that its regulations become effective when approved by the Board of Supervisors. Prior to their approval by the BOR at its August 27th meeting, these proposed changes were sent to the three participating employers for questions and comments and none were received. The BOR is now submitting the regulation changes to this Board for approval.

DISCUSSION:
The following is a summary of the regulation changes.

Article II Board Officers and Chief Executive Officer
Regulations 2.1, 2.2, and 2.3 provide that the election to the Board Chair, Vice Chair, and Secretary positions is in July. The amendment provides that this election can occur in August or July because sometimes not all BOR members are seated by July.

Article III Meetings
Regulation 3.4 states the BOR regular meeting day and time and provides that changes to the schedule are to be made at a regular meeting. The amendment clarifies that these changes are done by resolution and expressly states that additional regular meetings can be added.

Regulation 3.9 provides that formal roll call votes must be taken by the Chief Executive Officer (CEO) in alphabetica...

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