Statute · California Education Code
Cal. Educ. Code § 42850 — Retiree Benefit Funds
Cal. Educ. Code § 42850
- Type
- Statute
- Source
- California Education Code
- Jurisdiction
- California
- Date
- 2002-09-30
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The governing board of any school district may establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds…
Citator
Cal. Educ. Code § 42850 — Retiree Benefit Funds is in force in the current edition of the Code, and nothing recorded condemns it.
The governing board of any school district may establish a fund for pension and other employee benefits to accumulate restricted moneys from salary reduction agreements, other contributions for employee retirement benefit payments, or both. Moneys may be transferred to the fund from other funds by periodic expense charges, in amounts based on existing and future obligation requirements. Payments from the pension plan and other employee benefits fund for insurance, annuities, administrative costs, or any other authorized purpose shall be made in accordance with all warrant approval requirements applicable under this code.