reglab/housing_qa huggingface dataset:
CA Govt Code § 31592.2 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31592.2.

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 shall remain in the fund as a reserve against deficiencies in interest earnings in other years, losses on investments, and other contingencies, except that, when such surplus exceeds 1 percent of the total assets of the retirement system, the board may transfer all, or any part, of such surplus in excess of 1 percent of the said total assets into county advance reserves for the sole purpose of payment of the cost of the benefits described in this chapter.(b) Where the board of supervisors has provided for the payment of all, or a portion, of the premiums, dues, or other charges for health benefits, Medicare, or the payment of accrued sick leave at retirement to or for all, or a portion, of officers, employees, and retired employees and their dependents, from the county general fund or other sources, the board of retirement may authorize the payment of all, or a portion, of payments of the benefits described in this subdivision from the county advance reserves. This payment shall comply with the requirements of Section 401 of Title 26 of the United States Code. Payment may be made directly from the county advance reserves for the benefits described in Section 31691.1.(Amended by Stats. 2014, Ch. 740, Sec. 6. (AB 2473) Effective January 1, 2015.)
CA Govt Code § 31592.3 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31592.3.

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 against deficiencies in interest earnings in other years, losses on investments, and other contingencies, except that when the total amount in the reserve exceeds 1 percent of the total assets of the retirement system, the board may transfer all or any part of such reserve in excess of 1 percent of the total assets into a special fund which shall be used for the sole purpose of providing an increase in monthly retirement allowance pursuant to Section 31681.7 or Section 31739.4. In the event the amount credited to the special fund is not sufficient to pay the entire amount of the increase provided for by Section 31681.7 or Section 31739.4 then the amount of the increase shall be reduced in proportion to the amount of the balance on hand in the special fund at the close of the fiscal year preceding the fiscal year during which such increase is operative.This section shall not be operative in any county until such time as the board of supervisors shall, by ordinance, make the provisions of this section applicable in such county. The board of supervisors may in such ordinance provide that the increase in monthly retirement allowance provided for by Section 31681.7 or 31739.4 shall be effective only subject to the provisions of this section.(Amended by Stats. 1968, Ch. 94.)
CA Govt Code § 31592.5 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31592.5.

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 system or the use or uses of excess funds of the retirement system. The organization shall have a reasonable opportunity to comment prior to any formal action by the board on the proposed changes.(Amended by Stats. 2012, Ch. 178, Sec. 4. (SB 1382) Effective January 1, 2013.)
CA Govt Code § 31592.6 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31592.6.

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 organization’s request the board shall cooperate with and assist the organization in distributing communications regarding membership in and retiree benefit programs available through the organization to all or a portion of those retired members. The content of those communications shall be wholly the responsibility of the recognized retiree organization, and the board shall not have any liability for the content of those communications. Cooperation and assistance in distribution may consist of combined or separate mailings. The board may charge a reasonable fee for those mailings, which may not exceed the actual costs to the system, including staff time for preparation of the mailings.(Added by Stats. 2012, Ch. 178, Sec. 5. (SB 1382) Effective January 1, 2013.)
CA Govt Code § 31593 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31593.

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 board may retain the services of a certified public accountant to perform the annual audit. That audit shall be performed in accordance with generally accepted auditing standards. The cost of the audit shall be considered a cost of the administration of the retirement system. The audit report shall address the financial condition of the retirement system, internal accounting controls, and compliance with applicable laws and regulations. A copy of the audit report shall he filed with the board of supervisors.Nothing in this section shall preclude the retirement board from selecting the county auditor to perform the annual audit, and if so done, the cost of that audit shall he considered a cost of the administration of the retirement system.At the request of the county board of supervisors, the county auditor may audit the accounts of the retirement system. The expense of that audit shall not be a cost chargeable by the county to the retirement system.(Repealed and added by Stats. 1998, Ch. 109, Sec. 6. Effective January 1, 1999.)
CA Govt Code § 31594 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31594.

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 board of any retirement system governed by this chapter to invest in any form or type of investment deemed prudent by the board pursuant to the requirements of Section 31595. It is also the intent of the Legislature to repeal, or amend as appropriate, certain statutory provisions, whether substantive or procedural in nature, that restrict the form, type, or amount of investments that would otherwise be considered prudent under the terms of that section. This will increase the flexibility and range of investment choice available to these retirement systems, while ensuring protection of the interests of their beneficiaries.(Repealed and added by Stats. 1984, Ch. 1738, Sec. 5. Effective September 30, 1984.)
CA Govt Code § 31595 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31595.

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 shall be held for the exclusive purposes of providing benefits to participants in the pension or retirement system and their beneficiaries and defraying reasonable expenses of administering the system. Except as otherwise expressly restricted by the California Constitution and by law, the board may, in its discretion, invest, or delegate the authority to invest, the assets of the fund through the purchase, holding, or sale of any form or type of investment, financial instrument, or financial transaction when prudent in the informed opinion of the board.The board and its officers and employees shall discharge their duties with respect to the system:(a) Solely in the interest of, and for the exclusive purposes of providing benefits to, participants and their beneficiaries, minimizing employer contributions thereto, and defraying reasonable expenses of administering the system.(b) With the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with these matters would use in the conduct of an enterprise of a like character and with like aims.(c) Shall diversify the investments of the system so as to minimize the risk of loss and to maximize the rate of return, unless under the circumstances it is clearly prudent not to do so.(Repealed and added by Stats. 1984, Ch. 1738, Sec. 7. Effective September 30, 1984.)
CA Govt Code § 31595.1 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31595.1.

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 invest and reinvest the moneys, and may from time to time sell any securities belonging to the system and may invest and reinvest the proceeds therefrom. An investment in or sale of securities shall not be made except upon the authorization of the board.(b) The board, in lieu of acting pursuant to subdivision (a), may delegate to another entity some or all of the powers prescribed in that subdivision.(Amended by Stats. 1995, Ch. 584, Sec. 7. Effective January 1, 1996.)
CA Govt Code § 31595.41 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31595.41.

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 exchange-traded call options and related matters, which would have been valid if Section 31595.4, as amended by Section 1 of the act which enacts this section, had been in effect at the time the acts were made or done are hereby ratified, confirmed, and validated.(Added by Stats. 1983, Ch. 130, Sec. 2.)
CA Govt Code § 31595.9 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31595.9.

31595.9.  Notwithstanding the provisions of Section 31595, in addition to other investments authorized by this article, funds received by the county treasurer not required for current disbursements may be invested in repurchase agreements or reverse repurchase agreements of any securities authorized by this article.For purposes of this section, “repurchase agreement” means a purchase of securities by the board pursuant to an agreement by which the seller will repurchase the securities on or before a specified date and for a specified amount.For purposes of this section, “reverse repurchase agreement” means a sale of securities by the board pursuant to an agreement by which the board will repurchase the securities on or before a specified date and for a specified amount.(Added by Stats. 1983, Ch. 534, Sec. 2.)
CA Govt Code § 31596 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31596.

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 receiving the proceeds, and may execute any and all documents necessary to transfer title. The duties imposed upon the county treasurer by this article are a part of his or her official duties, for the faithful performance of which he or she is liable on his or her official bond.(b) The board may, or if authorized by the board, the treasurer shall authorize a state or federally chartered depository institution, the deposits of which are insured by the Federal Deposit Insurance Corporation, or any trust company licensed under state or federal law to conduct the business of a trust company or any Federal Reserve Bank, to act as custodian of any securities owned by the retirement association. In that case, the duties imposed by subdivision (a) upon the county treasurer shall instead be performed by the board and shall be included in any agreement for custodial services. Any of these banks or trust companies may be authorized to collect the income from the securities and deposit the proceeds in an account established by the board for the retirement association.(Amended by Stats. 1999, Ch. 771, Sec. 1. Effective January 1, 2000.)
CA Govt Code § 31596.1 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31596.1.

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 the retirement system, but shall be considered as a reduction in earnings from those investments or a charge against the assets of the retirement system as determined by the board:(a) The costs, as approved by the board, of actuarial valuations and services rendered pursuant to Section 31453.(b) The compensation of any bank or trust company performing custodial services.(c) When an investment is made in deeds of trust and mortgages, the fees stipulated in any agreement entered into with a bank or mortgage service company to service such deeds of trust and mortgages.(d) Any fees stipulated in an agreement entered into with investment counsel for consulting or management services in connection with the administration of the board’s investment program, including the system’s participation in any form of investment pools managed by a third party or parties.(e) The compensation to an attorney for services rendered pursuant to Section 31607 or legal representation rendered pursuant to Section 31529.1.(Amended by Stats. 1992, Ch. 1047, Sec. 3. Effective January 1, 1993.)
CA Govt Code § 31597 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31597.

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 shall exhibit the financial condition of the retirement system at the close of the preceding December 31st and its financial transactions for the year ending on that day.(Amended by Stats. 2003, Ch. 520, Sec. 4. Effective January 1, 2004.)
CA Govt Code § 31597.1 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31597.1.

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 shall exhibit the financial condition of the retirement system at the close of the preceding June 30th and its financial transactions for the fiscal year ending that day.This section is not operative in any county until the board of supervisors, by resolution adopted by a majority vote, makes the provisions of this section applicable in the county. After the filing of the first fiscal year accounting under this section, the provisions of Section 31597 do not apply in the county.(Amended by Stats. 2003, Ch. 520, Sec. 5. Effective January 1, 2004.)
CA Govt Code § 31597.2 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31597.2.

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 (a) of Section 31595.1, the treasurer shall be responsible for filing the statement required by Section 31597 or Section 31597.1, as applicable.(Added by Stats. 1995, Ch. 584, Sec. 11. Effective January 1, 1996.)
CA Govt Code § 31598 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31598.

31598.  The annual statement shall be prepared in accordance with generally accepted accounting principles on the basis of pronouncements of the Government Accounting Standards Board or its successor organization.(Repealed and added by Stats. 1996, Ch. 680, Sec. 11. Effective January 1, 1997.)
CA Govt Code § 31599 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31599.

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 to show at any time:(a) The total accumulated contributions of members.(b) The total accumulated contributions of retired members less the annuity payments made to the members.(c) The accumulated contributions of the county or district held for the benefit of members on account of service rendered as members of the retirement system.(d) All other accumulated contributions of the county or district, including the amounts available to meet the obligation of the county or district on account of benefits granted to retired employees and on account of prior service of members.(Amended by Stats. 1995, Ch. 584, Sec. 12. Effective January 1, 1996.)
CA Govt Code § 31600 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31600.

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 pension, annuity, or retirement allowance begins after the first day of the month or ends before the last day of the month.(Added by Stats. 1947, Ch. 424.)
CA Govt Code § 31601.1 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31601.1.

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 board or, where a county board of supervisors or a county board of education has a material interest in the property unless it is approved by nine votes of the board.(Amended by Stats. 1984, Ch. 1738, Sec. 19. Effective September 30, 1984.)
CA Govt Code § 31602 (2021)
2021 California Code|Government Code - GOV|TITLE 3 - GOVERNMENT OF COUNTIES|DIVISION 4 - EMPLOYEES|PART 3 - RETIREMENT SYSTEMS|CHAPTER 3 - County Employees Retirement Law of 197|ARTICLE 5 - Financial Provisions|Section 31602.

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, may establish a program utilizing the retirement fund to assist system members and annuitants, through financing, to obtain homes in this state.The board shall adopt regulations governing the program which shall, among other things, provide: (a) That home loans be made available to currently employed members and annuitants for the purchase of single-family dwellings, two-family dwellings, three-family dwellings, four-family dwellings, single-family cooperative apartments, and single-family condominiums. (b) That private lending institutions in this state shall originate and service its home loans pursuant to agreements entered into between those institutions and the board. (c) That the recipients of the loans occupy the homes as their permanent residences in accordance with the rules and regulations established by the board.(d) That its home loans shall be available only for the purchase or refinancing of homes in this state and that under no condition shall a member or annuitant have more than one outstanding loan. (e) That the amount and length of the loans shall be pursuant to a schedule periodically established by the board which shall provide a loan to value ratio of: (1) for the first loan, except for three-family dwellings and four-family dwellings, a maximum of 95 percent of the first loan; (2) for the first loan on three-family dwellings and four-family dwellings, a maximum of 90 percent of the first loan; and (3) for each additional loan, a maximum of 80 percent of each additional loan. The portion of any loan exceeding 80 percent of value shall be insured by an admitted mortgage guaranty insurer conforming to Chapter 2A (commencing with Section 12640.01) of Part 6 of Division 2 of the Insurance Code in an amount so that the unguaranteed portion of the loan does not exceed 75 percent of the market value of the property together with improvements thereon. (f) That there may be prepayment penalties assessed on its loan in accordance with the rules and regulations established by the board. (g) That the criteria and terms for its loans shall provide the greatest benefit to members and annuitants consistent with the financial integrity of the program and the sound investment of the retirement fund. (h) Any other terms and conditions as the board shall deem appropriate.(Amended by Stats. 1991, Ch. 1091, Sec. 58.)