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Committee advances bill to raise trustee meeting stipends for public pension boards
Summary
AB 1619 would allow retirement boards (county, CalSTRS, CalPERS) to increase trustee meeting stipends from $100 to up to $320 per meeting, with supporters arguing the change modernizes compensation and broadens board diversity; the committee voted to pass the bill as amended.
AB 1619 was presented to the Assembly Committee on Public Employment and Retirement to increase trustee stipend limits for county retirement boards, the State Teachers' Retirement System (CalSTRS) and the Public Employees' Retirement System (CalPERS) from $100 to $320 per meeting, with a cap of five meetings per month and local approval required.
The presenter said the current $100 stipend has not been updated in nearly 40 years and argued the higher limit reflects the increasing complexity and time commitment of retirement board service. "Retirement board members carry serious fiduciary responsibility, managing large investment portfolios and benefit systems that public employees depend on," one witness testified.
Roger Hilton, a trustee with the Orange County Employees Retirement System and a former deputy sheriff, told the committee that his system's assets grew from about $9 billion when he started to $28 billion today, and that the stipend limits can discourage diverse candidates. "AB 1619 helps ensure the people managing billions in public retirement assets are qualified, committed, and diverse," Hilton said.
The committee accepted committee amendments, moved the bill, and the roll call recorded a do‑pass as amended motion. The secretary called roll and recorded 'aye' votes; the clerk announced the motion passed as amended and that the roll would be held open for absent members.
Why it matters: Supporters said updating stipend limits compensates trustees for increased workload, could improve recruitment and diversity on retirement boards, and preserves local control because any local increase requires board adoption.
Outcome: The committee moved AB 1619 as amended to the Committee on Appropriations; the roll call in the transcript recorded affirmative votes and the motion was reported as passed (motion recorded as "do pass as amended").
