CA AB736

Expands compensation-setting authority of the Teachers' Retirement Board to include chief operating officer and chief financial officer positions, in addition to existing positions like chief executive officer and chief investment officer.

Limits annual salary increases for individuals serving as chief financial officer or chief operating officer on January 1, 2016, to 10% for fiscal year 2017-18 and 5% for subsequent fiscal years.

Specifies that the board's compensation-fixing duty applies to a single position in each job category.

Modifies post-employment restriction period (2 years) to apply to chief operating officers and career executive assignment position holders reporting directly to the CEO or COO, removing the restriction from certain other senior management positions.

Allows the board to take employment action against executives for causes related to fiduciary responsibility to members, including failure to meet specified performance objectives.