CA AB2780

Expands State Teachers' Retirement System (STRS) membership eligibility to include positions requiring a valid permit (in addition to credentials, licenses, or certificates) authorized by the Commission on Teacher Credentialing or State Department of Health Care Services, effective July 1, 2027

Modifies STRS investment requirements to mandate diversifying investments to "minimize the risk of loss and to maximize the rate of return" rather than the current standard of minimizing "large losses"

Shortens the timeframe for employers to notify part-time and substitute employees about STRS membership eligibility from 30 days to 10 working days after hire

Requires STRS service retirement applications and related forms to be received by the system within 30 days after signature, and establishes new conditions for changing retirement annuities from the Defined Benefit Supplement Program to lump-sum payments

Establishes statute of limitations provisions for counties other than Los Angeles under the County Employees Retirement Law of 1937, including a 3-year limitation for payment adjustments and 10-year limitations for errors involving death, remarriage, or fraudulent compensation reports