CHAPTER 21. Public Pension and Retirement Plans
Heading of Chapter 21 renumbered from Chapter 19 (as added by Stats. 1974, Ch. 1478) by Stats. 1977, Ch. 579.
§§ 7500–7522.76 · 67 sections
ARTICLE 1. General Provisions §§ 7500–7514.7 · 39 sections
- § 7500 Any city with a population of 1,000,000 or more, and any agency thereof, which has established any pension and retirement plan which requires officers and…
- § 7500.5 (a) This section shall only apply to the City of San Diego. (b) For the purposes of this section, the following definitions shall apply: (1) “Federal system”…
- § 7501 It is the intent and purpose of the Legislature, in enacting this chapter, to safeguard the solvency of all public retirement systems and funds. The…
- § 7502 The Controller shall review the annual financial report of each state and local public retirement system submitted pursuant to Section 7504 giving particular…
- § 7503 All state and local public retirement systems shall prepare an annual report in accordance with generally accepted accounting principles.
- § 7504 (a) All state and local public retirement systems shall, not less than triennially, secure the services of an actuary. For the purposes of this section,…
- § 7505 Every state and local public retirement system shall permit any person entitled to the receipt of benefits to designate that payment of such benefits shall be…
- § 7506 Notwithstanding any other provision of law, any person entitled to the receipt of benefits from any state retirement system may authorize the payment of the…
- § 7506.5 The Controller shall make an agreement with one or more financial institutions participating in the Automated Clearing House pursuant to the local rules, and…
- § 7507 (a) For the purpose of this section: (1) “Actuary” means an actuary as defined in Section 7504. (2) “Future annual costs” includes, but is not limited to,…
- § 7507.2 (a) There is hereby enacted the California Actuarial Advisory Panel. The panel shall provide impartial and independent information on pensions, other…
- § 7507.5 It is the intent of the Legislature that the Regents of the University of California provide written notice to the Legislature of any proposed changes to…
- § 7508 A retired member of a state retirement system, other than the University of California Retirement System, the Judges’ Retirement System, the Judges’ Retirement…
- § 7508.5 Except as otherwise provided in Section 20098 or 31528 of this code, or Section 22212.5 of the Education Code, an individual who was a member of the retirement…
- § 7509 (a) The restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any loans made by, or…
- § 7510 (a) (1) Except as provided in subdivision (b), a public retirement system, which has invested assets in real property and improvements thereon for business or…
- § 7510.5 (a) For purposes of this section, the following definitions apply: (1) “Board” means the Board of Administration of the Public Employees’ Retirement System or…
- § 7511 Notwithstanding any other provision to the contrary: (a) A public retirement system may purchase insurance for its fiduciaries or for itself to cover liability…
- § 7512 Each state and local public pension or retirement system shall, on and after the 90th day following the completion of the annual audit of the system, mail or…
- § 7513 (a) In the case of a state or local retirement system or plan that is subject to Section 401(a)(31) of the Internal Revenue Code, if, under the terms of the…
- § 7513.5 (a) On or before the first day of March of each year, the Teachers’ Retirement Board and the Board of Administration of the Public Employees’ Retirement…
- § 7513.6 (a) As used in this section, the following definitions shall apply: (1) “Active business operations” means a company engaged in business operations that…
- § 7513.7 (a) As used in this section, the following definitions shall apply: (1) “Board” means the Board of Administration of the Public Employees’ Retirement System or…
- § 7513.72 (a) As used in this section: (1) “Board” means the Board of Administration of the Public Employees’ Retirement System or the Teachers’ Retirement Board of the…
- § 7513.74 (a) As used in this section, the following terms have the following meanings: (1) “Board” means the Board of Administration of the Public Employees’ Retirement…
- § 7513.75 (a) The Legislature finds and declares all of the following: (1) The combustion of coal resources is the single largest contributor to global climate change in…
- § 7513.8 As used in this section and Sections 7513.85, 7513.86, 7513.87, 7513.9, and 7513.95: (a) “Board” means the retirement board of a public pension or retirement…
- § 7513.85 (a) The board shall develop and implement, on or before June 30, 2010, a policy requiring the disclosure of payments to placement agents in connection with…
- § 7513.86 Except as provided in subdivisions (b) and (c) of Section 82047.3, a person shall not act as a placement agent in connection with any potential system…
- § 7513.87 (a) A person acting as a placement agent in connection with any potential system investment made by a local public retirement system shall file any applicable…
- § 7513.9 (a) Any placement agent, prior to acting as a placement agent in connection with any potential system investment, shall disclose to the board all campaign…
- § 7513.95 A member or employee of the board shall not, directly or indirectly, by himself or herself, or as an agent, partner, or employee of a person or entity other…
- § 7513.97 As used in Section 11 of Article VII of the Constitution, the following terms have the following meanings: (a) “Actuarial equivalent” means a benefit of equal…
- § 7514 (a) Notwithstanding any other provision of law except Chapter 7 (commencing with Section 16649.80) of Part 2 of Division 4 of Title 2, any state or local…
- § 7514.1 Notwithstanding any other provision of law except Chapter 7 (commencing with Section 16649.80) of Part 2 of Division 4 of Title 2, any state or local public…
- § 7514.2 (a) As used in this section, the following definitions shall apply: (1) “Board” means the Board of Administration of the Public Employees’ Retirement System,…
- § 7514.3 Notwithstanding any other provision of law, state pension systems may, subject to and consistent with their fiduciary duties and the standard for prudent…
- § 7514.5 Notwithstanding any other provision of law, whenever the rights of a member of the Public Employees’ Retirement System, the State Teachers’ Retirement System,…
- § 7514.7 (a) Every public investment fund shall require each alternative investment vehicle in which it invests to make the following disclosures at least annually: (1)…
ARTICLE 2. Joint Retirement System Investment Information Sharing §§ 7515–7516 · 2 sections
- § 7515 It is the intent of this chapter to authorize and encourage the Public Employees’ Retirement System and the State Teachers’ Retirement System to regularly…
- § 7516 Notwithstanding any other provision of law, confidential information or documents relating to investments in the possession of the Public Employees’ Retirement…
ARTICLE 3. Deposits of Public Pension and Retirement Funds § 7520 · 1 section
- § 7520 (a) Notwithstanding any other provision of law, any public pension fund or retirement system of this state or local agency of this state may contract with a…
ARTICLE 4. California Public Employees’ Pension Reform Act of 2013 §§ 7522–7522.76 · 25 sections
- § 7522 This article shall be known as the California Public Employees’ Pension Reform Act of 2013.
- § 7522.02 (a) (1) Notwithstanding any other law, except as provided in this article, on and after January 1, 2013, this article shall apply to all state and local public…
- § 7522.04 For the purposes of this article: (a) “Defined benefit formula” means a formula used by the retirement system to determine a retirement benefit based on age,…
- § 7522.05 (a) A joint powers authority formed on or after January 1, 2013, and formed pursuant to the provisions of the Joint Exercise of Powers Act (Article 1…
- § 7522.10 (a) On and after January 1, 2013, each public retirement system shall modify its plan or plans to comply with the requirements of this section for each public…
- § 7522.15 Except as provided in subdivisions (d) and (e) of Section 7522.02, each public employer and each public retirement system that offers a defined benefit plan…
- § 7522.18 (a) A public employer that does not offer a supplemental defined benefit plan before January 1, 2013, shall not offer a supplemental defined benefit plan for…
- § 7522.20 (a) Each retirement system that offers a defined benefit plan for nonsafety members of the system shall use the formula prescribed by this section. The defined…
- § 7522.25 (a) Each retirement system that offers a defined benefit plan for safety members of the system shall use one or more of the defined benefit formulas prescribed…
- § 7522.30 (a) This section shall apply to all public employers and to all new members. Equal sharing of normal costs between public employers and public employees shall…
- § 7522.32 For the purposes of determining a retirement benefit to be paid to a new member of a public retirement system, the following shall apply: (a) Final…
- § 7522.34 (a) “Pensionable compensation” of a new member of any public retirement system means the normal monthly rate of pay or base pay of the member paid in cash to…
- § 7522.40 (a) A public employer shall not provide to a public employee who is elected or appointed, a trustee, excluded from collective bargaining, exempt from civil…
- § 7522.42 (a) In addition to any other benefit limitation prescribed by law, for the purposes of determining a public retirement benefit paid to a new member of a public…
- § 7522.43 (a) A public employer shall not offer a plan of replacement benefits for members and any survivors or beneficiaries whose retirement benefits are limited by…
- § 7522.44 This section shall apply to all public employers and to all public employees: (a) Any enhancement to a public employee’s retirement formula or retirement…
- § 7522.46 (a) A public retirement system shall not allow the purchase of nonqualified service credit, as defined by Section 415(n)(3)(C) of the Internal Revenue Code of…
- § 7522.48 (a) Final compensation of a member for the purpose of determining any pension or benefit resulting from service as an elective or appointed officer on a city…
- § 7522.52 (a) In any fiscal year, a public employer’s contribution to a defined benefit plan, in combination with employee contributions to that defined benefit plan,…
- § 7522.56 (a) This section shall apply to any person who is receiving a pension benefit from a public retirement system and shall supersede any other provision in…
- § 7522.57 (a) This section shall apply to any retired person who is receiving a pension benefit from a public retirement system and is first appointed on or after…
- § 7522.70 (a) This section shall apply to any elected public officer who takes public office, or is reelected to public office, on or after January 1, 2006. (b) If an…
- § 7522.72 (a) This section shall apply to a public employee first employed by a public employer or first elected or appointed to an office before January 1, 2013, and,…
- § 7522.74 (a) This section shall apply to a public employee first employed by a public employer or first elected or appointed to an office on or after January 1, 2013,…
- § 7522.76 (a) If a public employee, as defined in subdivision (h) of Section 7522.04, retires while under investigation by a public employer for misconduct arising out…