California Public Pension and Retirement Systems Required to Invest in California Businesses (2012)

Not on Ballot
This measure did not or will not appear on a ballot

A Public Pension and Retirement Systems Required to Invest in California Businesses Act (11-0018) was cleared for circulation for California's 2012 ballot as an initiated constitutional amendment. However, sponsors of 10-0018 did not submit the required signatures by the January 12, 2012 deadline and therefore, #11-0018 will not be on the ballot.

The letter requesting a title and summary for the proposed initiative was signed by Michael Lee Madsen, Sr.

Text of measure

See also: Ballot titles, summaries and fiscal statements for California's 2012 ballot propositions

Ballot title:

Requires Minimum Investment by Public Pension or Retirement Systems in California Businesses. Initiative Constitutional Amendment.

Official summary:

"Requires all State and local public pension or retirement systems to invest and maintain at least 85 percent of their assets in California businesses in which at least 70 percent of the employees are employed within California by January 1, 2016."

Summary of estimated fiscal impact:

(This is a summary of the initiative's estimated "fiscal impact on state and local government" prepared by the California Legislative Analyst's Office and the Director of Finance.)

"Potential increase in state and local pension contribution costs of billions of dollars per year (as measured in today’s dollars), depending on how this measure is implemented. Unknown, but likely not significant, net long-term change in state economic activity and related state and local revenues."

External links

• Letter requesting a ballot title for Initiative 11-0018

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