CHAPTER 4. The Fund

Chapter 4 added by Stats. 1998, Ch. 820, Sec. 11.

§§ 22960.45–22960.52 · 8 sections

• § 22960.45 The State Peace Officers’ and Firefighters’ Defined Contribution Plan Fund is hereby established as a special trust fund in the State Treasury to accept…
• § 22960.46 The board shall have exclusive control of the investment of the fund.
• § 22960.47 Notwithstanding any other provision of law, the board may retain a bank or trust company to serve as a custodian for safekeeping, recordkeeping, delivery,…
• § 22960.48 Notwithstanding Section 13340, all moneys in the fund are continuously appropriated, without regard to fiscal years or plan years, to the board to carry out…
• § 22960.49 All costs of the plan shall be charged against the plan participants accounts.
• § 22960.50 The assets of the fund shall be valued annually, and may be valued more frequently as prescribed by the board.
• § 22960.51 No part of the assets of the fund may revert to the employer until all liabilities of the plan have been fully satisfied.
• § 22960.52 Consistent with the requirements of Section 401(a)(2) of the Internal Revenue Code (26 U.S.C. Sec. 401(a)(2)), the corpus or income of the plan’s trust shall…