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.
The board may end an employer’s participation in the prefunding plan and may allow asset transfers in or out of the plan, subject to stated requirements.
Section 21715.
This section says “policeman” in this part also includes people currently employed in certain listed classifications.
Section 22013.78.
The board may designate other state agencies to help administer this part, but only with approval from the Department of General Services.
Section 22501.
This section says an annuitant may stay enrolled only if required payments and related costs are paid to the board, and sets payment timing, termination rules, and deposit requirements.
Section 22802.
The board must withdraw approval of a health benefit plan when required findings are made, but only after giving notice and a reasonable chance for a public hearing.
Section 22855.
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.