CA SB414

Eliminates board authority to prohibit alternate seventh members from having full rights, privileges, responsibilities, and committee participation equal to other board members.

Requires retirement boards to hold elections at the earliest possible date to fill vacancies in second, third, seventh, eighth, or alternate seventh member positions for the duration of the current term.

Allows boards of supervisors to skip elections when only one candidate is nominated, instead directing the clerk to cast a unanimous ballot.

Changes the process for filling eighth member vacancies by requiring boards to appoint a replacement alternate retired member by majority vote, rather than having the alternate automatically fill the vacancy.

Establishes a process for filling vacancies on boards of investments in counties with retirement system assets exceeding $800,000,000, with elections held at the earliest possible date.