ARTICLE 5. Financial Provisions

Article 5 added by Stats. 1947, Ch. 424.

§§ 31580–31607 · 46 sections

• § 31580 The board of supervisors shall appropriate annually from the proper county funds the amount necessary to defray the entire expense of administration of the…
• § 31580.1 The board may include each year in the contribution required of a district a reasonable amount, which may differ from district to district, to cover the costs…
• § 31580.2 (a) In counties in which the board of retirement, or the board of retirement and the board of investment, have appointed personnel pursuant to Section 31522.1,…
• § 31581 After the date a system becomes operative the board of supervisors shall, in the preparation and adoption of the county budget, add to the appropriation for…
• § 31581.1 (a) The board of supervisors may elect to pay up to one-half of the contributions normally required of members for any period of time designated in the…
• § 31581.2 (a) The board of supervisors or the governing body of the district may agree to pay any portion of the contributions required to be paid by a member. All…
• § 31582 (a) The county auditor shall certify to the board at the end of each month or at the end of each pay period the compensation earnable, as defined in Section…
• § 31582.1 In any county in which the board of retirement so provides, the county auditor shall not be required to make the certifications required by Section 31582.
• § 31584 The board of supervisors shall make the appropriations, and if it fails or neglects to make the appropriations, the county auditor shall transfer from any…
• § 31585 When any district becomes a part of the retirement system, the same appropriations and transfers of funds shall be made as those required of the county in this…
• § 31585.1 When an employee paid from the county school service fund elects to remain a member of this retirement system as authorized by Section 1313 of the Education…
• § 31585.2 On and after the date a district, as defined in subdivision (l) of Section 31468, is included in the retirement system, the district’s appropriations and…
• § 31586 All payments of the county or of any district into the retirement fund, whether made pursuant to this article or made pursuant to law, are obligations of the…
• § 31587 The board shall apply the contributions of the county or district to its obligations under the system in the order and amounts as follows: First, in an amount…
• § 31588 A trust fund account to be designated as “employees retirement fund” shall be opened upon the books of the retirement board, or treasurer and auditor if…
• § 31588.1 There is hereby established in the County Employees’ Retirement System a deferred yield adjustment account which shall be increased by the sale or disposition…
• § 31588.2 Notwithstanding any other provision of law, no funds in the retirement fund shall be expended for any purpose other than the expense of administration of the…
• § 31589 All transfers or payments to the retirement system and all withdrawals and other cash transactions, shall be accounted upon the books of the retirement board,…
• § 31589.1 There is hereby established for accounting purposes in the County Employees Retirement Law of 1937 the following procedure for treating a trade of bonds for…
• § 31590 (a) All warrants, checks, and electronic fund transfers drawn on the retirement fund shall be signed or authorized by at least two board officers or employees,…
• § 31590.2 (a) (1) This section applies only to a retirement system in a county of the first class, as described in Sections 28020 and 28022. (2) All warrants, checks,…
• § 31591 (a) Regular interest shall be credited semiannually on June 30th and December 31st to all contributions in the retirement fund which have been on deposit for…
• § 31592 Earnings of the retirement fund during any year in excess of the total interest credited to contributions and reserves during such year shall remain in the…
• § 31592.2 (a) In any county, earnings of the retirement fund during any year in excess of the total interest credited to contributions and reserves during such year…
• § 31592.3 In any county, earnings of the retirement fund, in excess of the total interest credited to contributions and reserves shall remain in the fund as a reserve…
• § 31592.4 (a) The amount of excess earnings available at the end of a fiscal year of the retirement fund, shall, subject to the limitations in this section, be treated…
• § 31592.5 The board shall provide to any recognized retiree organization reasonable advance notice of any proposed changes to the retirement benefits offered by the…
• § 31592.6 In order for a recognized retiree organization to fulfill its obligations to the retired members of the system and to communicate with them, upon the…
• § 31593 The retirement board shall conduct an audit of the retirement system at least once every 12 months and report upon its financial condition. The retirement…
• § 31594 It is the intent of the Legislature, consistent with the mandate of the voters in passing Proposition 21 at the June 5, 1984, Primary Election, to allow the…
• § 31595 The board has exclusive control of the investment of the employees retirement fund. The assets of a public pension or retirement system are trust funds and…
• § 31595.1 (a) The board may authorize the treasurer to control and safely keep some or all of the moneys of the retirement system. If authorized, the treasurer may…
• § 31595.41 All acts made or done by the board or its officers and employees, on or after January 1, 1983, and until the effective date of this section, with respect to…
• § 31595.9 Notwithstanding the provisions of Section 31595, in addition to other investments authorized by this article, funds received by the county treasurer not…
• § 31596 (a) When securities belonging to or held for the retirement association are sold, the county treasurer shall deliver the securities to the purchaser upon…
• § 31596.1 The expenses of investing its moneys shall be borne solely by the system. The following types of expenses shall not be considered a cost of administration of…
• § 31597 Before June 30th of each year the retirement board shall file in the office of the county auditor and with the board of supervisors a sworn statement that…
• § 31597.1 Before December 31 of each year, the retirement board shall file in the office of the county auditor and with the board of supervisors a sworn statement that…
• § 31597.2 In those counties in which the retirement board has authorized the treasurer to control and hold the assets of the retirement system pursuant to subdivision…
• § 31598 The annual statement shall be prepared in accordance with generally accepted accounting principles on the basis of pronouncements of the Government Accounting…
• § 31599 In addition to other records and accounts, the retirement board, or the treasurer if authorized by the board, shall keep records and accounts as are necessary…
• § 31600 A pension, annuity, or retirement allowance is payable in equal monthly installments, but a smaller pro rata amount may be paid for part of a month when the…
• § 31601.1 In counties having a board of investments pursuant to Section 31520.2, no investment shall be made in real property unless it is approved by six votes of the…
• § 31602 Notwithstanding any other provision of law, the board of retirement, or, in counties that have established a board of investments, the board of investments,…
• § 31603 The board of retirement or the board of investments, as applicable, may obtain a loan and pledge a portion of the assets of the retirement fund as security for…
• § 31607 To assist in carrying out its investment powers and duties the board may employ an attorney in private practice.