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.
For certain members covered by Section 21366, the normal contribution rate is set by the board’s schedule, with a gender-rate adjustment rule effective on and after January 1, 1977.
Section 20674.
If the contract says so, a local member’s normal contribution rate is based on the age at which the member entered the local system.
Section 20685.
The board must make separate one-time asset-and-liability computations for the Butte and Solano county trial court contracts, and the affected trial courts and counties must provide specified information by the stated deadlines.
Section 20815.5.
If the employer makes a formal determination and the listed conditions are met, eligible legislative employees get two additional years of service credit, and the employer must pay the retirement fund the required amount.
Section 20902.
This section defines “leave of absence” to include certain absences from state service tied to work-related illness or injury.
Section 21004.
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.