California Education Code

§ 42850

EDC § 42850 Effective Sep 30, 2002Div. 3 · Title 2 · Part 24 · Ch. 10 · Art. 6

Statute text

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.

Legislative history

Amended by Stats. 2002, Ch. 1168, Sec. 28. Effective September 30, 2002.