ARTICLE 5.5. Alternative Financial Provisions
Article 5.5 added by Stats. 1983, Ch. 886, Sec. 4.
§§ 31610–31619 · 11 sections
- § 31610 This article shall not become operative in any county unless and until it is adopted by resolution of the county board of retirement and the county board of…
- § 31611 An actuarial valuation shall be made within one year after the date on which any system established under this chapter becomes effective, and thereafter at…
- § 31612 “Actuarial rate” means the interest assumption rate established by the most recent actuarial survey recommended by the board of retirement and adopted by the…
- § 31613 “Net earnings” means the earnings of the retirement fund after accounting for any direct investment losses recognized during the year, less the amounts taken…
- § 31614 Notwithstanding Section 31529, the board may contract for the legal services of an attorney in private practice when the board determines, after consultation…
- § 31615 Regular interest at the actuarial rate, or at the highest rate possible if net earnings, as defined in Section 31613 are not sufficient to credit the full…
- § 31616 After the semiannual application of Section 31615, earnings of the retirement fund in excess of the total interest credited to contributions and reserves shall…
- § 31617 In each county having an agreement prior to January 1, 1983, that a fixed part of the required Article 16.5 (commencing with Section 31870) cost-of-living…
- § 31618 The board shall establish a Supplemental Retiree Benefit Reserve in the retirement system consisting of any amount previously in the reserve against…
- § 31618.5 (a) The board shall annually transfer, from the administrative budget established pursuant to Article 5 (commencing with Section 31580), an amount sufficient…
- § 31619 Remaining net earnings, after the sequential application of Sections 31615 and 31616 and Section 31617, if applicable, and Section 31618 shall be credited to…