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Education Code - EDC - EDC § 22351
Education Code - EDC - EDC § 22351
It is the intent of the Legislature that the board secure investment advisors with the composite expertise necessary for the investment of the retirement fund portfolio.
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Education Code - EDC - EDC § 22352
Education Code - EDC - EDC § 22352
Upon a finding by the board that necessary investment expertise is not available within existing civil service classifications, and with the approval of the State Personnel Board, the board may, pursuant to policy adopted by the board, establish competitive bidding processes, and
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Education Code - EDC - EDC § 22353
Education Code - EDC - EDC § 22353
(a) Notwithstanding any other provision of law, the board shall by contract retain not less than two separate individual investment advisers. (b) Notwithstanding Section 13340 of the Government Code, there is hereby continuously appropriated without regard to fiscal years, from t
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Education Code - EDC - EDC § 22354
Education Code - EDC - EDC § 22354
(a) The board shall, pursuant to the state civil service statutes, either contract with, or establish and fill full-time positions for, investment managers who are experienced and knowledgeable in corporate management issues to monitor each corporation any of whose shares are own
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Education Code - EDC - EDC § 22355
Education Code - EDC - EDC § 22355
In no event shall the board employ through interagency agreement any investment personnel who would also serve during the term of the agreement as investment staff to the Board of Administration of the Public Employees’ Retirement System.
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Education Code - EDC - EDC § 22356
Education Code - EDC - EDC § 22356
The board may apply to reduce the book value of securities purchased, all or part of the excess of the proceeds of the sale or redemption prior to maturity of securities over the book value of the securities sold or redeemed provided the purchase of securities is made with those
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Education Code - EDC - EDC § 22359
Education Code - EDC - EDC § 22359
Notwithstanding any other provision of law, the board may retain a bank or trust company to serve as custodian for safekeeping, delivery, securities valuation, investment performance reporting, and other services in connection with investment of the retirement fund.
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Education Code - EDC - EDC § 22360
Education Code - EDC - EDC § 22360
(a) Notwithstanding any other provision of law, the board may pursuant to Section 22203 and in conformance with its fiduciary duty set forth in Section 22250, enter into correspondent agreements with private lending institutions in this state to utilize the retirement fund to inv
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Education Code - EDC - EDC § 22360.5
Education Code - EDC - EDC § 22360.5
(a) The board may include in any investment program established pursuant to Section 22360 a procedure whereby a member may obtain 100 percent financing for the purchase for a single-family dwelling unit in accordance with the following criteria: (1) The member shall obtain one lo
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Education Code - EDC - EDC § 22361
Education Code - EDC - EDC § 22361
(a) The board may, subject to and consistent with its fiduciary duty, establish a program utilizing the retirement fund to assist currently employed members and retired members who are victims of a natural disaster to obtain loans from the retirement fund for the sole purpose of
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Education Code - EDC - EDC § 22362
Education Code - EDC - EDC § 22362
(a) Notwithstanding any other provision of law, the board shall give first priority to investing not less than 25 percent of all funds of the plan that become available in a fiscal year for new investments, in any of the following: (1) Obligations secured by a lien or charge sole
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Education Code - EDC - EDC § 22363
Education Code - EDC - EDC § 22363
No matter involving any vendor or contractor, in their individual or any other capacity, shall be considered during a closed session on any transaction involving the system unless, prior to the closed session, a written disclosure has been submitted by the vendor or contractor of
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Education Code - EDC - EDC § 22364
Education Code - EDC - EDC § 22364
(a) During the process leading to an award of any contract by the system, no member of the board or its staff shall knowingly communicate concerning any matter relating to the contract or selection process with any party financially interested in the contract, or an officer or em
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Education Code - EDC - EDC § 22375
Education Code - EDC - EDC § 22375
Notwithstanding Part 11 (commencing with Section 15850) of Division 3 of Title 2 of the Government Code, the board may select, purchase, or acquire in the name of the plan, the fee or any lesser interest in real property, improved or unimproved, and may remodel and equip, or cons
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Education Code - EDC - EDC § 22376
Education Code - EDC - EDC § 22376
All buildings acquired or improvements constructed by the board under the provisions of this chapter may contain space in excess of immediate requirements. The board may contract with the Department of General Services to handle the rentals of any excess space over and above that
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Education Code - EDC - EDC § 22377
Education Code - EDC - EDC § 22377
The board may contract with the Department of General Services or any other state agency for assistance in the acquisition of real property and any construction thereon of buildings or improvements authorized by this chapter.
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Education Code - EDC - EDC § 22378
Education Code - EDC - EDC § 22378
In the event that condemnation of the property selected is necessary, the board may elect to deposit with the treasurer funds it deems necessary, and that are appropriated, for purchase of the selected property subject to the Property Acquisition Law (Part 11 (commencing with Sec
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Education Code - EDC - EDC § 22379
Education Code - EDC - EDC § 22379
Work on all projects shall be done under contract awarded to the lowest responsible bidder pursuant to bidding procedures set forth in the State Contract Act (Chapter 1 (commencing with Section 10100) of Division 2 of the Public Contract Code).
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Education Code - EDC - EDC § 22380
Education Code - EDC - EDC § 22380
(a) The board shall establish a building account for the transfer of money appropriated for that purpose from the retirement fund for the construction or remodeling of buildings and improvements thereon, maintenance, repair, and improvement thereof. (b) The board may contract wit
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Education Code - EDC - EDC § 224
Education Code - EDC - EDC § 224
(a) The sex discrimination provisions of this chapter shall not be construed to prevent the American Legion or the American Legion Auxiliary from operating programs and activities undertaken in connection with the organization or operation of any Boys State conference or Girls St
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Education Code - EDC - EDC § 224.5
Education Code - EDC - EDC § 224.5
(a) There is hereby established the gender equity train-the-trainer grant program. The Superintendent of Public Instruction shall award grants from funds available for that purpose to the governing boards of school districts and county offices of education for the implementation
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Education Code - EDC - EDC § 22400
Education Code - EDC - EDC § 22400
(a) There is in the State Treasury a special trust fund to be known as the Teachers’ Retirement Fund. There shall be deposited in that fund the assets of the plan and its predecessors, consisting of employee contributions, employer contributions, state contributions, appropriatio
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Education Code - EDC - EDC § 22401
Education Code - EDC - EDC § 22401
Return on investments shall be collected by the Treasurer, and together with any other moneys received for the retirement fund shall be immediately deposited to the credit of that fund and reported immediately to the system. Money in whatever form received directly by the system
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Education Code - EDC - EDC § 22402
Education Code - EDC - EDC § 22402
Earned interest on plan assets with respect to the Defined Benefit Program that is not credited to member accounts under the Defined Benefit Program and the plan’s other income with respect to the Defined Benefit Program shall be allocated to provide benefits payable under the De
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Education Code - EDC - EDC § 22403
Education Code - EDC - EDC § 22403
The Legislature hereby finds and declares that pursuant to the authorizing legislation creating and establishing the Cash Balance Plan, the board transferred one million dollars ($1,000,000) in the form of a loan from the retirement fund holding assets at that time exclusively fo