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 retirement system must pay a $255 supplemental survivorship benefit when a member dies before retirement and leaves a qualifying spouse; otherwise, it must use that benefit to reimburse funeral expenses up to $255.
Section 31855.9.
Before the board may execute the State’s agreement with the federal agency, the pension board and the board must first enter into a written agreement.
Section 31894.
The board may make regulations, but only if they are not inconsistent with this chapter, and the regulations take effect only after approval by the board of supervisors.
Section 31960.
A county peace officer member must be retired for disability if the incapacity came from an injury or disease arising out of employment; another incapacitated member must be retired after 10 years of service. The board determines incapacity.
Section 32053.
The board may appoint a secretary and pay its necessary expenses from the fund, including secretary hire and printing.
Section 32264.
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.