Bill > AB1439

This bill proposes to require the boards of the Public Employees’ Retirement System (PERS) and the State Teachers’ Retirement System (STRS) to contract with the University of California Labor Centers to conduct an independent study on the impacts of prohibiting investments in California development projects that lack specific labor standards protections. These labor standards protections include requirements for prevailing wages and apprenticeships on construction work, the use of skilled and trained workforces by contractors and subcontractors, and commitments to labor peace during union organizing campaigns. The study, which may involve subcontracting for additional expertise, must be completed and submitted to the Legislature and the Department of Finance by January 1, 2028. Importantly, the bill clarifies that neither PERS nor STRS would be required to take any action based on these findings unless their respective boards determine in good faith that doing so aligns with their fiduciary responsibilities as outlined in the California Constitution.

Budget and Finance, Labor and Employment

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB1439