CA SB783

Requests the University of California to establish the Pension Divestment Review Program to assess legislative proposals requiring public employee pension funds to divest assets or restrict investments.

Requires the program to prepare written analyses within 60 days examining financial impacts (expected returns, funded status, contribution rates, administrative costs) and policy effectiveness of divestment proposals.

Authorizes the Chairperson of the Assembly Committee on Public Employees, Retirement, and Social Security; Chairperson of the Senate Committee on Public Employment and Retirement; Speaker of the Assembly; or President pro Tempore of the Senate to request assessments.

Appropriates $2,000,000 from the General Fund to the Pension Divestment Review Program Fund for the 2018–19 fiscal year to support program implementation.

Requires the program to submit an implementation report to the Governor and Legislature by January 1, 2020, with all analyses made publicly available.