California Government Code ARTICLE 3 - Retirement Board

• Section 31950.
  The management of the system is vested in a board of retirement, consisting of five members, one of whom shall be the county treasurer acting...
• Section 31951.
  The first persons elected or appointed as the second and fourth members shall serve for two years from the date the system becomes operative, and...
• Section 31952.
  Neither the enactment of this chapter nor any amendment of its predecessor shortens the term of any member of the board who was lawfully elected...
• Section 31953.
  A pensioner is eligible for membership on the board to the same extent as if he were a member.(Added by Stats. 1947, Ch. 424.)
• Section 31954.
  The members of the board, except the fourth and fifth members, shall serve without compensation. The fourth and fifth members of the board shall receive...
• Section 31955.
  The board shall organize by choosing one of its number as chairman. Thereafter the officers shall be chosen biennially by the board.(Added by Stats. 1947,...
• Section 31956.
  The board shall meet for the transaction of business at least once every three months in each calendar year and at other times as it...
• Section 31957.
  A majority of the members may transact any business of the board.(Added by Stats. 1947, Ch. 424.)
• Section 31958.
  The board may compel witnesses to attend and testify before it upon all matters connected with the operation of this chapter in the same manner...
• Section 31959.
  The board may appoint a secretary and provide for the payment from the fund of all its necessary expenses, including secretary hire and printing.(Added by...
• Section 31960.
  The board may make regulations not inconsistent with this chapter. The regulations shall become effective when approved by the board of supervisors.(Added by Stats. 1947,...
• Section 31961.
  The board shall report annually in January to the board of supervisors the condition of the fund and the receipts and disbursements on account of...
• Section 31962.
  The board shall annually prepare a budget of the cost of maintaining the pension fund. For this purpose it may employ an actuary to assist...
• Section 31963.
  The board shall cause an actuarial investigation and valuation of the system to be made immediately after the first year of operation and thereafter at...
• Section 31964.
  After the receipt of the recommendations the board of supervisors shall promptly adjust the rate of interest, the rates of contributions of members, and county...
• Section 31965.
  The board has charge and control of the funds of the system, and shall administer them and order payments therefrom in accordance with this chapter.(Added...
• Section 31966.
  The board shall invest and reinvest the funds of the system, and may from time to time sell any securities held by it and invest...
• Section 31967.
  Whenever securities belonging to or held for the system are sold, the county treasurer shall deliver the securities sold upon receiving the proceeds and may...

Last modified: October 22, 2018