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Education Code - EDC - EDC § 22252
Education Code - EDC - EDC § 22252
Except as otherwise provided by law, the board and its officers and employees of the system shall not cause the system to engage in a transaction if they know or should know that the transaction constitutes a direct or indirect: (a) Sale or exchange, or leasing, of any property f
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Education Code - EDC - EDC § 22253
Education Code - EDC - EDC § 22253
The board and its officers and employees of the system shall not do any of the following: (a) Deal with the assets of the plan and the system in their own interest or for their own account. (b) In their individual or in any other capacity, act in any transaction involving the sys
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Education Code - EDC - EDC § 22254
Education Code - EDC - EDC § 22254
(a) Any board member or officer who breaches any of the responsibilities, obligations, or duties imposed upon them by Section 22251, 22252, or 22253 shall be personally liable to make restitution to the retirement fund for any losses to it resulting from each breach, and to resto
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Education Code - EDC - EDC § 22255
Education Code - EDC - EDC § 22255
(a) No board member or officer shall be personally liable for the breach of a fiduciary duty except as set forth in Section 22254 or 22256. This subdivision shall apply only to causes of actions arising on or after January 1, 1990. (b) Nothing in this section shall be interpreted
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Education Code - EDC - EDC § 22256
Education Code - EDC - EDC § 22256
A board member or officer shall be liable for a breach of fiduciary responsibility of another board member or officer with respect to the system in the following circumstances: (a) If the board member or officer knowingly participates in, or knowingly undertakes to conceal an act
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Education Code - EDC - EDC § 22257
Education Code - EDC - EDC § 22257
(a) Notwithstanding Section 22203, the board may contract with or appoint one or more investment managers to manage the assets of the retirement fund. If the board has acted with care, skill, prudence, and diligence in meeting the requirements of Sections 22252 and 22253 in selec
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Education Code - EDC - EDC § 22258
Education Code - EDC - EDC § 22258
Notwithstanding Section 13340 of the Government Code, there is hereby continuously appropriated, without regard to fiscal years, from the retirement fund to the board, the amount necessary to pay for any insurance obtained pursuant to Section 7511 of the Government Code. These pa
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Education Code - EDC - EDC § 22259
Education Code - EDC - EDC § 22259
(a) All board members and officers and employees of the system shall execute a fidelity bond, in an amount determined by the board to be prudent, conditioned upon the faithful performance of the duties of the board member or employee. (b) All board members and officers and all st
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Education Code - EDC - EDC § 22260
Education Code - EDC - EDC § 22260
Notwithstanding any other provision of law, the system may provide credit enhancement for bonds, notes, certificates of participation, or other evidences of indebtedness of an employer, provided that any credit enhancement transaction satisfies the requirement of Section 22250 an
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Education Code - EDC - EDC § 22261
Education Code - EDC - EDC § 22261
Notwithstanding any other provision of law, the board may make investments related to the planning, development, or acquisition of surplus real property owned by an employer, if the investment satisfies the requirements of Section 22250 and does not constitute a prohibited transa
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Education Code - EDC - EDC § 223
Education Code - EDC - EDC § 223
This chapter shall not apply to the membership practices of the Young Men’s Christian Association, Young Women’s Christian Association, girl scouts, boy scouts, Camp Fire, or voluntary youth service organizations which are exempt from taxation under subdivision (a) of Section 501
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Education Code - EDC - EDC § 22300
Education Code - EDC - EDC § 22300
The chief executive officer is the chief administrative officer of the system. The chief executive officer may administer oaths.
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Education Code - EDC - EDC § 22301
Education Code - EDC - EDC § 22301
The chief executive officer has the authority and responsibility for the administration of the system and the plan pursuant to the policies and rules adopted by the board. The chief executive officer may delegate to his or her subordinates any act or duty unless the board by moti
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Education Code - EDC - EDC § 22302
Education Code - EDC - EDC § 22302
(a) The board shall establish an ombudsperson position to serve as an advocate for the members of the Defined Benefit Program and participants of the Cash Balance Benefit Program. The duties of the ombudsperson position shall include reviewing and making recommendations to the ch
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Education Code - EDC - EDC § 22302.5
Education Code - EDC - EDC § 22302.5
The board may contract with a qualified third-party administrator for custodial, record keeping, or other administrative services necessary to carry into effect the provisions of Chapter 38 (commencing with Section 25000) of this part or Part 14.
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Education Code - EDC - EDC § 22303
Education Code - EDC - EDC § 22303
(a) Due to an increase in the demand for retirement counseling services, the system, notwithstanding any other provision of law, may contract with a county superintendent or other employer to provide retirement counseling. Retired public employees may be employed on a part-time b
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Education Code - EDC - EDC § 22303.5
Education Code - EDC - EDC § 22303.5
Notwithstanding any other provision of law, the board shall offer a midcareer retirement information program for the benefit of all members to enhance awareness of the features and benefits of the Defined Benefit Program, services of the system, federal Social Security Act progra
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Education Code - EDC - EDC § 22304
Education Code - EDC - EDC § 22304
(a) The costs of administration of the plan shall be paid from the retirement fund and those costs may not exceed the amount made available by law during any fiscal period. (b) The administrative costs of the plan shall be divided proportionately in accordance with the assets of
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Education Code - EDC - EDC § 22305
Education Code - EDC - EDC § 22305
Any rules and regulations adopted by the board for the purpose of the administration of this part and Part 14 (commencing with Section 26000), and not inconsistent with this part and Part 14 (commencing with Section 26000), have the force and effect of law.
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Education Code - EDC - EDC § 22306
Education Code - EDC - EDC § 22306
(a) Information filed with the system by a member, participant, or beneficiary of the plan is confidential and shall be used by the system for the sole purpose of carrying into effect the provisions of this part, Part 13.5 (commencing with Section 25900), and Part 14 (commencing
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Education Code - EDC - EDC § 22307
Education Code - EDC - EDC § 22307
(a) The board may authorize the transfer and disbursement of funds from the retirement fund for the purpose of carrying into effect this part and Part 14 (commencing with Section 26000). That action shall require signatures of either the board chairperson and vice chairperson, or
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Education Code - EDC - EDC § 22307.5
Education Code - EDC - EDC § 22307.5
(a) There is in the State Treasury a trust fund to be known as the Teachers’ Retirement Program Development Fund. There shall be deposited directly in that fund, and not transferred from the Teachers’ Retirement Fund, that portion of employer contributions determined by the board
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Education Code - EDC - EDC § 22307.6
Education Code - EDC - EDC § 22307.6
The board may, by resolution, direct the Controller to transfer all or a portion of the assets in the Teachers’ Retirement Program Development Fund, established pursuant to Section 22307.5, into the designated fund or account that is authorized to expend funds for the same progra
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Education Code - EDC - EDC § 22308
Education Code - EDC - EDC § 22308
(a) Subject to subdivision (d), the board may, in its discretion and upon any terms it deems just, correct the errors or omissions of any member or beneficiary of the Defined Benefit Program, and of any participant or beneficiary of the Cash Balance Benefit Program, if all of the
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Education Code - EDC - EDC § 22309
Education Code - EDC - EDC § 22309
(a) Except as provided in subdivision (c), the system shall make available to each active and inactive member, at least annually after the close of the school year, a statement of the member’s individual Defined Benefit Program and Defined Benefit Supplement accounts. The system