CA SB1504

Revises references to "tax-deferred retirement savings plans" to "tax-advantaged retirement savings plans" and eliminates the requirement that participation agreements be written.

Grants the Department of Human Resources exclusive authority to determine core portfolio investment products and requires the department to offer a broad range of investment options including a brokerage option.

Modifies state employee leave payout election rules to apply only to employees terminated or leaving employment after November 1, with deferred payments deposited into retirement plans by two and one-half months after separation or tendered by February 1 of the following year.

Expands supervisory training requirements to include training for managers and requires initial supervisory training be completed no later than the probationary period, with biennial (rather than biannual) follow-up leadership training of 20 hours.

Updates various statutory references from the Department of Personnel Administration to the Department of Human Resources throughout multiple sections of the Government Code, Labor Code, and related statutes.