Requirements Under California Government Code 31522.8
This requires '37 Act county retirement system boards (both boards of retirement and boards of investment), to adopt policies for providing education to board members. At a minimum the policies must do the following:
Identify appropriate educational topics, including, but not limited to, fiduciary responsibilities, ethics, pension fund investments and investment program management, actuarial matters, pension funding, benefits administration, disability evaluation, fair hearings, and pension fund governance.
Determine the programs, training, and educational systems that shall qualify as board member education. Educational seminars sponsored by the state or national pension fund organizations, and seminars sponsored by accredited academic institutions shall be deemed to meet board member education requirements.
Require that each board member to receive at least 24 hours of education within the first 2 years of assuming office and for every two-year period that the board member continues to hold office.
Board Member Hours
Total education hours in compliance with AB 1519 as of September 30, 2019.