100038. (a) Notwithstanding Section 10231.5, the board shall submit an annual audited financial report, prepared in accordance with generally accepted accounting principles, on the operations of the California Secure Choice Retirement Savings Trust by August 1 to the Governor, the Controller, the State Auditor, and the Legislature, pursuant to Section 9795. The annual audit shall be made by an independent certified public accountant and shall include, but not be limited to, direct and indirect costs attributable to the use of outside consultants, independent contractors, and any other persons who are not state employees.
(b) The annual audit shall be supplemented by the following information prepared by the board:
(1) Any studies or evaluations prepared in the preceding year.
(2) A summary of the benefits provided by the trust including the number of participants in the trust.
(3) Any other information that is relevant in order to make a full, fair, and effective disclosure of the operations of the California Secure Choice Retirement Savings Trust.
(Added by Stats. 2012, Ch. 734, Sec. 3. Effective January 1, 2013. Conditionally operative as provided in Section 100042.)Section: Previous 100022 100024 100026 100028 100030 100032 100034 100036 100038 100040 100042 100043 100043.5 100044 Next
Last modified: September 9, 2016