Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“This act is named the Government Code.”
This section defines key terms used in the CalSavers retirement savings title. This section creates the CalSavers Retirement Savings Board and sets rules for how the board, program administrator, and staff must operate. This section creates the CalSavers Retirement Savings Trust, assigns the board to administer it, requires the board to split trust money into a program fund and an administrative fund, and gives the Treasurer and the board investment-related powers. It also caps administrative fund spending at 1% of the total program fund after six years from implementation and exempts certain securities from specified Corporations Code sections. The CalSavers Retirement Savings Program must include one or more payroll deduction IRA arrangements, as determined by the board. The board has broad authority over the trust, including contracts, investments, staff, insurance, cooperation, and rulemaking.
02
How the instrument operates
- 01
Start with the recorded version
Enacted 1943. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.
- 03
Read conditions and exceptions together
Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
- 04
Verify currency and official wording
Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.
03
Research entry points
Selected provisions across the instrument. Open any row to continue with the exact stored text.
A participating county may give up a conditional award and reapply for one, if no state money has been encumbered in the county’s contracts.
Section 15820.910.
The board may authorize the Treasurer, the Department of Finance, or both to get a legal opinion other than the Attorney General’s if it thinks that will improve the sale or price of the bonds or notes. The legal service must be paid from sale proceeds.
Section 15837.
This section defines “county transportation commission” as a commission created under Division 12 of the Public Utilities Code.
Section 15956.
This section sets the interest rate on postponed property tax payments and requires the Controller to update and publish the rate when specified conditions are met.
Section 16183.
Rules for handling small state overpayments: an agency may apply an overpayment of $10 or less to other amounts owed, and the Controller may order it deposited to the Treasury fund on request. The Department of General Services may also…
Section 16302.1.
04
Source and current-law status
Source record view
Source record from leginfo.legislature.ca.gov · Enacted 1943
The source record does not state a definitive current-law status. Check the official publisher and later amendments before relying on this text.