CALL TO ORDER THIS A HEARING ON
SECOND MEDIA PUBLIC EMPLOYEES
RETIREMENT A LOT THANK ALL
THE MEMBERS TO PARTLY LISTEN
VERY CAREFULLY AND GOT HERE
ON TIME I APPRECIATE THAT
APOLOGIZE I'M A LITTLE LATE
HERS TICKLED A HUMAN BEING
TO TAKE A LITTLE LONGER AND
I EXPECTED BECAUSE I ASKED ME
QUESTIONS BUT I STATUS -- I
KNOW NEVER BUT THAT OF COURSE
I THINK IT'S BEEN ANNOUNCED
AS DEEP ONE TWO THREE FOUR
CENTER BY TAXES BEING HELD AND
-- UP THE SYQUEST AND WE HAVE
CENTER ALLEN HERE TO PRESENT
ITEM NUMBER ONE BEFORE WELCOME
FIGURES CHAIR AND WE QUORUM
SO IF YOU GO AHEAD KALRA FIRST
PAN HERE PAN HERE MAROON LEYVA
HERE LIVING HERE MORE LOCK
WELL I PRESENTS PORTANTINO
OKAY WELCOME CENTER WHO THINK
IS A CHAIR AND JUDGING BY THE
SWORD XERATH YOU REALLY DID RUN
HERE SO I DO I DO APPRECIATE
YOUR COMING DOWN HI AND DONE
IN AN ACCIDENT SO I WE'RE
TALKING HERE ABOUT S.
B. I.'S NINE SIXTY FOUR AND
-- HOUSING HOUSES POINTS OUT
IT'S THE REINTRODUCTION OF A
MEASURE THAT I WORKED ON LAST
YEAR WHICH IS S. B.
FIVE SIXTY WHICH SOUGHT TO
ENSURE THE CALIFORNIA IS TOO
BIG PENSION FUNDS CASTERS
CALPERS CONSIDER THE FINANCIAL
RISKS POSED BY CLIMATE CHANGE
HAVE THE FOR FOR SO I THINK
THE COMMITTEE IN BOTH PENSION
FUNDS FOR WORKING I WITH MY
STAFF OVER THE PAST YEAR TO
HELP US FIND LANGUAGE THAT
ACCOMPLISHES OUR BECAUSE WHILE
RESPECTING THE MANDATES OF
THESE PENSION PLANS -- BOTH
PENSION PLANS HAVE GOVERNMENT'S
DIRECTIVES THAT ADVISED THEM TO
TAKE CLIMATE RISKS INTO ACCOUNT
WHEN MAKING THEIR INVESTMENT
DECISIONS AND WHILE THIS BILL
DOES IS TO CODIFY THAT CLIMATE
RELATED RISKS ARE MATERIAL
FINANCIAL RISKS AND SO THEY
SHOULD BE CONSIDERED BY THE
PENSION FUNDS WHEN MANAGING
THEIR FUNDS AND THAT'S THE
BOARD'S REPORT ON THIS RISK
IN THEIR COURT COMPREHENSIVE
FINANCIAL REPORTS THE HOUSE'S
EXPLAINS THE FOUR DIFFERENT
TYPES OF RISK THAT THE CLIMATE
CHANGE POSES TO THE VALUE
FUND'S ASSETS THAT SHOULD BE
CONSIDERED BY FUND FIDUCIARY
THIS INCLUDES PHYSICAL RISK
TRANSITION RISK STRANDED
ASSETS RISK IN LITIGATION
RISK I'M HAPPY TO GO INTO
DETAIL ABOUT EACH OF THOSE
TYPES OF RISK BUT THEY'RE
ALL VERY ABLY I DESCRIBED
IN THE IN THE ANALYSIS FONG
GLOBALLY THESE RISKS AND
HOW TO ACCOUNT FOR THEM ARE
BEING TAKEN VERY SERIOUSLY
SO TWENTY FIFTEEN FRANCE BOB
BECAME THE FIRST COUNTRY TO
REQUIRE MANDATORY CLIMATE
CHANGE RELATED REPORTING FOR
INSTITUTIONAL INVESTORS IN
TWENTY SIXTEEN THE EUROPEAN
PARLIAMENT AND CENTER MORE LIKE
GUYS FAVORITE LEGISLATIVE BODY
-- PROVED A DIRECTIVE REQUIRE
BOTH HAVE GREAT WE'RE EUROPEAN
ROOTS -- WITH THAT THE BUT
THE EU PARLIAMENT APPROVED A
DIRECTIVE REQUIRING PENSION
FUNDS TO ASSESS CLIMATE RISK
ALONG WITH OTHER INCREMENTAL
SOCIAL AND GOVERNANCE RISKS
IN THEIR INVESTMENT DECISIONS
JUNE INFORM FIND MEMBERS AND
BENEFICIARIES OF THEIR FINDINGS
AND CALIFORNIA'S LEAD THE WAY
ON HI SO MANY FRIENDS RELATED
TO CLIMATE CHANGE OUR PENSION
FUNDS ARE ALREADY LEADING THE
WAY TO ENSURE THE CLIENT THAT
FINANCIAL CLIMB A RISK IS TAKEN
SERIOUSLY WITHIN THE GLOBAL
COMMUNITY AND THIS BILL S.
B. NINE SIXTY FOUR CODIFIES
I COULD WORK HELPING TO
EXPORT OUR EXAMPLE TO THE
REFORMATION WITHOUT AYE
RESPECT THAT'S RIGHT VOTE
THANK YOU IN THIS IS A SPORT
GO QUICKLY BECAUSE -- I'VE GOT
ANOTHER HEARING THAT CHECK ON
JENNIFER BAKER THE CALIFORNIA
TEACHERS ASSOCIATION HA WE
HAD CONCERNS LAST YEAR BUT I'M
HAPPY TO SAY THAT THINKS OF THE
DEDICATION OF THE CENTER HIS
STAFF AND FOLKS AT CASTERS WERE
IN SUPPORT AND APPRECIATE THAT
THIS CODIFY SECRETE WORK THAT
CASTERS AND CALPERS DIRTY DOING
BECAUSE I'M CLEAR BROWN FROM UC
BERKELEY AND I'M REPRESENTING
ALSO FREE CALIFORNIA AND
GRAMMY CALIFORNIA URGE YOUR
SUPPORT FOR S. B.
NINE SIXTY FOUR I JUST WANT TO
QUICKLY SUMMARIZE TO RESEARCH
REPORTS TO SHOW YOU HOW
IMPORTANT THIS IS FOR BY TO
SHARING RESPONSIBILITY MERCER
INVESTMENTS FOUND THAT OVER
THE NEXT THIRTY FIVE YEARS THE
COAL INDUSTRY CAN EXPECT TO
SEE ANNUAL RETURNS REDUCED BY
UP TO EIGHTY TWO PERCENT OIL
AND UTILITY INDUSTRIES WILL SEE
RETURNS FALLING BY THIRTY EIGHT
AND SIXTY PERCENT RENEWABLES
CAN EXPECT AVERAGE JANUARY
TURNS TO INCREASE BY AS MUCH
AS THIRTY FIVE PERCENT OVER
THIS PERIOD A SUMMER CANADIAN
STUDY FOUND THAT LOW CARBON
PORTFOLIOS HAD MUCH HIGHER
RISK ADJUSTED RETURNS AS WELL
AS LOWER CARBON INTENSITY
SO WE KNOW THAT S.
B. NINE SIXTY FOUR ISSUES
RE CONFIRMING CALPERS IN
CALIFORNIA'S TO ADDRESS
FINANCIAL RISK AND I WANT
YOU TO KNOW THAT THIS RISK
ANALYSIS IS NEITHER COSTLY
NOR ONEROUS BECAUSE TOOLS FOR
EVALUATING COMPANIES CARBON
RICH COULD READILY AVAILABLE
SO LEMME JUST URGE YOU SENATE
TO GO FORWARD WITH THIS BILL
DO EVERYTHING YOU CAN TO PASS
IT IN YOUR COMMITTEE AND ALSO
IN THE SENATE BECAUSE THIS WILL
REALLY HELP US MOVE FORWARD
AND TAKING CARE FINANCIAL
RISK IN OUR PUBLIC PENSIONS
THANK YOU THANK YOU ANY OTHER
WITNESSES SUPPORT THANK YOU
MISTER CHAIRMAN MY NAME IS
DAN JACOBSON WITH ENVIRONMENT
CALIFORNIA FIRST I THINK YOU
AND YOUR STAFF FOR TAKING THE
TIME TO LOOK AT THIS LAST YEAR
AND TO LOOK AT IT THIS YEAR
AS THEY SAID WE'VE REMOVED
THIS PROPOSITION THAT WE HAD
OR SOME OF THE CONCERNS IS A
GREAT BILL REALLY IMPORTANT
AND HER CHIN OUT BUT I THINK
YOU I'M JANET TALKS OF PUZZLE
FREAK CALIFORNIA THANK YOU
VERY MUCH CHAIRMAN PAN ON THE
COMMITTEE ESPECIALLY TO SENATOR
ALLEN TINA THE SUSPEND A GREAT
PROJECT TO GETTING THIS BILL TO
THIS POINT AND WE'RE GRATEFUL
TO ALL OF YOU STE POSSIBLY
CALIFORNIA AS SPONSOR OF THE
BILL -- STRONGLY SUPPORTS
HAVING THANK YOU WELCOME KAREN
SHOT CHRIS CARE MEMBER AND ALSO
SPEAKING ON BEHALF OF THROUGH A
A THREE FIFTY SOUTH BAY LA AND
THE SO CAL THREE FIFTY STRONGLY
IN SUPPORT THANK YOU THANK YOU
CHRISTINE SHOEMAKER SPEAKING
ON BEHALF OF THREE FIFTY
SILICON VALLEY STRONG SUPPORT
THANK YOU AT TINA GALLIERA
REPRESENTING THREE FIFTY
SAN DIEGO AND STRONG SUPPORT
THANK YOU I'M SHEILA FOREIGN
I'M UPPERS ARE BENEFICIARY
AND I'M SPEAKING ON BEHALF
OF GLENDALE ENVIRONMENTAL
COALITION AND THREE FIFTY
GREATER LOS ANGELES LEGISLATURE
LEGISLATIVE COMMITTEE
STRONGLY IN SUPPORT THANK YOU
SHOP OR PEROT PURPOSE MEMBER
AND ALSO A MEMBER OF DEMOCRACY
WINNERS SUPPORT THANK YOU
DAVID CHIU EARNED REPRESENTING
A THREE FIFTY BAY AREA AND THE
LOCAL GROUPS IN CINEMA BOMBER
IN EAST BAY AND SAN FRANCISCO
REPRESENTING ABOUT TWELVE
THOUSAND MEMBERS STRONGLY IN
SUPPORT OF THIS BILL THINKING
THANK YOU RIGHT ANYONE IN
OPPOSITION OKAY SEE NO INCOME
AT OPPOSITION QUESTIONS
FROM COMMITTEE MEMBERS THE
BILL A CENTER MORE LIKE
MISTER CHAIR I
CALPERS MCALISTER'S
THEY'RE READY HAVE
POLICIES THAT BELIEVE
STATEMENTS -- CALPERS HAS
INVESTMENT BELIEVE NUMBER NINE
AND CAL STIRS HAS INVESTMENT
BELIEVE NUMBER SEVEN WHICH
DEALS WITH THESE CONCERNS
SO THIS BILL WOULD REQUIRE
AND WHICH IS PRETTY STRONG
WORDS AND IN MY VOCABULARY
AND I'M I'M REALLY CONCERNED
ABOUT LEADING -- INVESTOR
FOR MANAGERS MANAGE SHOULD WE
SHOULD WE SHOULD EMPOWER HER
CHIEF INVESTMENT OFFICERS TO
DO WHAT THEY THINK IS THE BEST
AND THEY'VE ALREADY MET THE
SPIRIT OF WHAT THIS BILL IS
TRYING TO DO FOLLOW SENATOR
ALLEN HELP ME WELL WHY IS A
CRITICAL TO TO SOMEHOW PUSH IT
TO A REQUIREMENT WELL SO FIRST
OF ALL THAT THAT HAS BEEN IT'S
RIGHT HERE IN THE HOUSE IS ON
PAGE TWO -- THAT THE BILL IS
VERY CLEAR IN CLARIFYING THE
NOTHING IN THAT ALSO REQUIRE
THE BOARD TO TAKE ACTION WAS
THE BOARD DETERMINES GOOD FAITH
THE ACTIONS CONSISTENT WITH
ITS FIDUCIARY RESPONSIBILITIES
OF THE PORT -- SO THIS IS
NOT GOING TO IMPACT THE
BOARD'S FREEDOM IN DISK FULL
DISCRETION AND AND THEIR FULL
PRODUCER DUTIES ASSOCIATED WITH
INVESTMENT DECISIONS WHAT IT
IS DOING IS MAKING SURE THAT
IT'S LOOKED AT AS AN ISSUE I
AND I THINK THE THE REASON OF
SENATOR IS STATE WHILE YOU KNOW
THE FOLKS AROUND THIS TABLE
REGARDLESS OF PARTY UNDERSTAND
THAT CLIMATE CHANGE IS A
RISK IN AND THAT IS SERIOUS
BOB THERE ARE THOSE WHO ARE
ELSEWHERE IN THE COUNTRY AND
YOU KNOW I UNFORTUNATELY WHAT
WHAT IS WHAT IS IT ABOUT THE
SCIENTIFIC FACT IT'S BECOME
REALLY RATHER UNFORTUNATELY
POLITICIZED AND WE'RE TRYING
TO MAKE SURE THAT I DID DOES
THE EUROPEANS HAVE THAT WE
WERE BASICALLY TAKING ACCOUNT
THAT WHICH WE KNOW -- IS THE
SERIOUS RISK ASSOCIATED WITH
CLIMATE CHANGE AND THAT YOU
KNOW OUR FUNDS WHEN THEY'RE
MAKING THEIR DECISIONS OUGHT
TO BE TAKING THE S.
THESE LONG TERM RISK INTO
ACCOUNT AND WE'RE ASKING OUR
FUNDS TO I MAKE SURE THAT
THEY ARE TAKING CARE OF THE
RETIREMENT SECURITY OF MANY
MANY CALIFORNIANS A LOT OF
OUR ECONOMY IS WRAPPED UP
IN THESE FUNDS AND FOR THEM
TO NOT BE TAKING THESE LONG
TERM GLOBAL CHALLENGES INTO
ACCOUNT WOULD BE -- IT WOULD
BE A PROBLEM AND -- AND WEBER
TURNED AND SIMPLY MAKE SURE
THAT THEY DO SO THAT'S THAT'S
REALLY ALL THIS BILL IS DOING
-- YOU'RE RIGHT I MEAN IT IS
ULTIMATELY CODIFYING THAT WHICH
THEY'RE ALREADY DOING BY GIVEN
THE PRECARIOUS NATURE OF THE
DEBATE OVER CLIMATE CHANGE AND
HOW WE FEEL SO IT'S A PRUDENT
THING FOR US TO DO TO GET INTO
STATUTE -- JUST AS SO MANY
OF OUR PARTNERS HAVE DONE NOT
IN OTHER PLACES IN THE WORLD
SO HOME BUT BUT BUT YOU CAN
YOU CAN REST ASSURED AND I
KNOW YOU CARE A LOT ABOUT DIE
SIZE I DO -- MAKE SURE THAT
WE DON'T DO ANYTHING TO JAM
UP TO THE DISCRETION AND AND
AND -- AND FLEXIBILITY OF THE
BOARD MEMBERS TO MAKE WHATEVER
FINANCIAL INVESTMENT DECISIONS
THEY FEEL NECESSARY NOTS NOT
IMPLICATED BY THIS IT'S PART
OF THE REASON WHY WE'VE GOTTEN
SUCH A UNIFIED SUPPORT FOR
THE BILL THIS YEAR HIM AND
AND THE CIO'S OF BOTH PLANS
HER HER FINE WITH THE BILL
YEAH WE'VE WE'VE FOUND PENA WE
WE'VE BEEN IN TOUCH WITH THEM
WE WILL WORK WITH THEM THEY
THEY ARE YOU KNOW THEY'RE NOT
COMING ON AND SUPPORT BY --
HATED IT DOES EXACTLY AS YOU
SAY COULD ULTIMATELY CODIFIES
THAT WHICH IS ALREADY THEIR
THEIR THEIR PRACTICE MCKIBBEN
I'LL BE OPPOSED TODAY BUT I'LL
CALL THE CIO'S MYSELF OCCURRED
BETWEEN NOW AND THE FLOOR
VOTE GREAT BRITAIN THANK YOU
THEIR MORALE AIDHNE
SENATOR PANTALLA
BUT WOULD YOU YOU MENTIONED
SOME VIEW JUST GLOSSED OVER
AND I JUST WONDER WHAT YOU
MEAN YOU SAID THE EUROPEANS
ARE DO AN AESTHETIC HOTTEST
ACTS PROBABLY THEY HAVE THEIR
INVESTMENTS COMPARED TO OURS
AND WHEN AND WHERE YOU BROUGHT
THEM UP WELL THE AYE AYE
BRING THEM UP BECAUSE I'M THE
EUROPEAN PARLIAMENT AS A IT IN
ITS TOTALITY AS A COLLECTIVE
APPROVED A DIRECTIVE IN
TWENTY SIXTEEN THAT REQUIRES
AND THE FUNDS TO ASSESS RISK
CLIMATE RISK IS VERY SIMILAR
TO WHAT WE'RE LOOKING TO DO
HERE AND THEY DID IT BECAUSE
THEY LOOKING GLOBALLY AT
ALL THE IMPACTS OF CLIMATE
CHANGE AND EVERYTHING FROM THE
THE DANGERS ASSOCIATED WITH
PURCHASING OR OWNING AN ASSET
THAT'S ON THE COASTLINE IN
BANGLADESH IT ALMOST CERTAINLY
WILL BE UNDER WATER AT SOME
POINT IN THE NOT TOO DISTANT
FUTURE UNFORTUNATELY -- RIGHT
THE WAY OVER TO THE COSTS OF
OF IMPLEMENTED OF IMPLEMENTING
SOME OF THE CLIMATE CHANGE
REGULATIONS HE BECOMING GEYSERS
OF THE PARIS ACCORDS I THOSE
ARE THINGS THAT THEY OUGHT TO
BE THEY NEED TO BE TAKEN INTO
ACCOUNT WHEN THEY'RE CRAFTING
THEIR THEIR PORTFOLIO PUT
WATER SOMEBODY DIE INVESTMENTS
THAT YOU LOOK AT THAT ARE
POSSIBLY BAD WELL SO FOR
EXAMPLE IF YOU HAVE BEEN AT
IF YOU HAVE AN ASSET THAT IS
IN AN AREA THAT SCIENTISTS
ARE PREDICTING WILL BE UNDER
WATER IN SIXTY YEARS THAT'S
SOMETHING TO BE CONSIDERING
ODD THAT THAT RIO PRESUMABLY
WILL SIGNIFICANTLY IMPACT
THE VALUE OF THAT PROPERTY
BUT IS THERE ANY INVESTMENTS
NOW THAT YOU'RE SEEING BECAUSE
THIS IS THE SAME LIKE A BILL
TRYING TO SOLVE A PROBLEM
-- BUT ARE YOUR BEST WITHOUT
CALPERS IS INVESTING IN THAT
YOU WOULD WANT TO PULL OUT OF
COULD YOU GIVE ME SOME EXAMPLES
WHERE IT'S IT'S NOT ADVANCEMENT
OMINOUS IS NOT ABOUT IS NOT
LIKE SOME OF THE BILLS YOU SEEN
BEFORE IT'S COMMITTED FORWARD
WE'RE SIMPLY ASKING THEM TO
BE TAKING THESE ISSUES INTO
ACCOUNT IT'S NOT SOMETHING THAT
THAT THAT -- PORTFOLIO MANAGERS
A TRADITIONALLY FOCUSED ON IN
THE PAST ARE BUT I THINK AS
WE NOW KNOW WHAT AN ENORMOUSLY
AND IMPACTFUL TRANSIT SAYS SO
YOU'RE ASKING HIM HERE IT YOU
KNOW THIS IS NOT A REQUIREMENT
YOU'LL BE REQUIRED FOR THEM
TO CONSIDER THE FACTS WERE NOT
OUT BUT IT DID THAT WE'RE NOT
ASKING THEM TO DIVEST FROM AND
WHAT WE'RE NOT ASKING DID TO
MAKE TO TAKE ANY SUBSTANTIVE
ACTION SO SIT WITH A PORTFOLIO
WE'RE JUST ASKING THEM TO TO
MAKE SURE THAT WHEN THEY ARE
ANALYZING THE PORTFOLIO JUST
LIKE THEY DO THEY THEY THEY
TAKEN OF THE TAKING ACCOUNT
SO MANY DIFFERENT FACTORS ON
THEIR ANALYZE THEIR PORTFOLIO
WHERE TO GO THE REGULATORY
LITIGATION AND PHYSICAL
IMPACTS ASSOCIATED CLIMATE
CHANGE OUGHT TO BE PART OF
THAT ANALYSIS THANK YOU CAREER
IT IS A I REITERATE THERE'S
DO THE BILL'S VERY EXPLICIT TO
SAY BUT NOTHING IN HERE SO I
IMPINGE UPON THE FIDUCIARY DUTY
I OF THE BOARD TO CARRY OUT
WHATEVER FINANCIAL INVESTMENT
DECISIONS THEY WANT TO
SOME OF IT YES CENTER
PORTANTINO I WAS JUST GOING TO
COMPLEMENT THE AUTHOR FOR SORT
OF CRAFTING SOMETHING THAT THE
THAT'S OUR FINANCIAL PLANNERS
TO CONSIDER INFORMATION AND
-- MAKE THEIR DECISION BASED
ON THAT IT SEEMS PREFERRED MEN
HAVING GLENDALE ENVIRONMENTAL
COALITION HERE AS WELL AS SHE
IS PREGNANT -- MOVE THE BILL IF
IT'S APPROPRIATE AND IF I COULD
BE ADDED AS A CO AUTHOR THANK
YOU YOU HAVE TO BE ADDED TO
THE LISTENER BUT I THINK CENTER
LEYVA DID BEAT YOU TO THE PUNCH
TACTIC SHE TESTS HE HAS REMOVED
THE BUT I'M GOING TO THE PARTY
SEEING NO OTHER QUESTIONS
I JUST WANT SENATOR ALLEN I
THINK YOU FOR YOUR WORK ON
THIS BILL -- I I DO THINK
THAT HERE IN THE LEGISLATURE
WE OFTEN TALK ABOUT THE --
WE SHOULD BE THINKING THE
FUTURE EFFECTIVELY OFTEN
CRITICIZED FOR BEING SHORT
THINKING ONLY FOR A SHORT TERM
AND SO AND WE DO HAVE A ROLE
-- IN TERMS OF OUR OVERSIGHT
OVER OUR PENSION FUNDS TO TO
PROVIDE SOME -- SYSTEM INPUT
TO OUR PENSION FUNDS AND THAT
INCLUDES OF COURSE WIND LOOK
AT THESE LONG TERM RISKS THAT
ARE WIDELY ACKNOWLEDGED WIDELY
ACKNOWLEDGED BY AYE NUMEROUS
ORGANIZATIONS INCLUDING
ACTUALLY INVESTMENT FIRMS
THEMSELVES SO I THINK ANY
PRUDENT INVESTOR WOULD BE
LOOKING AT THESE ISSUES AND I
THINK IT'S IMPORTANT THAT OUR
LEGISLATURE -- THE DIRECTOR
PENSION FUNDS BE SURE THAT THEY
ARE CONSIDERING THESE ISSUES
AS THEY'RE DOING TO INVESTMENTS
BECAUSE AFTER ALL IF THEIR
INVESTMENTS FALL BEHIND IT
THINK IS SOMETIMES AND POINT
OUT SOME OF OUR MEMBERS WERE
THE ONES WHO ARE OFTEN ASKED
TO THEN BACK FILLER FILL TO TO
MAKE UP FOR THOSE DIFFERENCES
SO I WANT THANK YOU SO MUCH
FOR THE BILL THAT'S BEEN
MOVED BY SEVERAL LEYVA SO I
SECRETARY CAN PLEASE CALL THE
ROLL AND I'M RECOMMENDING AN
AYE VOTE ON THIS THE MOTION IS
TO PRESENT THE REFER TO SENATE
APPROPRIATIONS COMMITTEE PAN
AYE AYE PAN AYE MAROON ROUND
NO LEYVA AYE LEYVA AYE MORE
LOCK MORE LIKE NO PORTANTINO
AYE PORTANTINO AYE OKAY THANK
YOU FOR THOSE OUT THREE TO
MAKE YOU OKAY SO THE NEXT ITEM
WE HAVE WE HAVE THREE ITEMS
ON CONSENT ITEM NUMBER THREE
SB WHAT LEVIN SIXTY FIVE AND
TO SEE TEACHERS RETIREMENT
-- ITEM THE BEFORE SB ELEVEN
NINETY FIVE PORTANTINO PUBLIC
EMPLOYEES MEDICAL HOSPITAL
CARE ACT AND I AND NUMBER FIVE
SP TWELVE SEVEN DIVIDE ACT
TRYING PLEASE RETIREMENT SYSTEM
PERSONNEL IS THERE A MOTION
FOR THE CONSENT CALENDAR EYES
BIỂU OKAY SOME GOOD ADVICE
-- DIDN'T BUT I'M A TARGET
IT'S BEEN MOVED BY SENATOR
MORALE A VICE CHAIR -- HUMOR
ALRIGHT SO I SECRETARY PLEASE
CALL THE ROLL PAN AYE PAN AYE
MAROONED ON WELL I LEAVE I
BELIEVE I MORE LOTS MORE LIKE
AYE PORTANTINO AYE PORTANTINO
AYE OKAY THE CONSENT CALENDAR
IS OUT FIVE ZERO WHEN DID
WELL WITH THAT -- WE HAVE
FINISHED OUR AGENDA AND I
WOULDN'T THE SENATE COMMITTEE
ON PUBLIC EMPLOYMENT
RETIREMENT THIS HEARING
IS NOW ADJOURNED THANK YOU