ARTICLE 5. The Retirement Fund

Article 5 added by Stats. 1995, Ch. 379, Sec. 2.

§§ 20170–20178 · 9 sections

• § 20170 The Public Employees’ Retirement Fund in the State Treasury is continued in existence. The Public Employees’ Retirement Fund is a trust fund created, and…
• § 20171 The board has the exclusive control of the administration and investment of the retirement fund.
• § 20172 Notwithstanding any other provision of law, the board may retain a bank or trust company to serve as custodian for safekeeping, delivery, securities valuation,…
• § 20173 Costs of administration of this system shall be paid from funds appropriated for interest income from the retirement fund.
• § 20174 Interest earned on any cash deposit in a bank by the Treasurer and income on other assets constituting a part of the fund shall be credited to the fund as…
• § 20175 Notwithstanding any other provision of law, funds in the reserve against deficiencies shall not be used to pay any employers’ contribution required by this…
• § 20176 Notwithstanding any other provision of law, no funds in the retirement fund shall be expended for any purpose other than the cost of administration of this…
• § 20177 The board shall deposit monthly in the State Treasury to the credit of the retirement fund all amounts received by it under this part.
• § 20178 (a) The board shall credit all contributions of members in the retirement fund with interest at an interest crediting rate of 6 percent compounded at each June…