Bill > SB5834

This bill amends existing law to clarify that the director of the retirement systems can pay for legal and medical expenses from the earnings of various state retirement system trust funds, such as the public employees' retirement system and the teachers' retirement system. Legal expenses are defined to include services like expert witness fees and court reporter costs, while medical expenses cover costs for member or retiree examinations and medical reports. The bill also expands the director's authority to use these earnings to cover costs associated with preventing and investigating fraud, including expenses for audits and cybersecurity, and for recovering overpayments made to members or retirees, with any recovered funds being returned to the appropriate trust fund.