Gov. Code, § 31591 · Article 5. Financial Provisions
Gov. Code, § 31591
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Regular interest shall be credited semiannually on June 30th and December 31st to all contributions in the retirement fund which have been on deposit for six months immediately prior to that date. Interest at the rate of 2 1/2 percent per annum, until otherwise determined by the board, compounded semiannually, shall be used in the calculation of benefits under any mortality table adopted by the board of supervisors.
(b) No interest shall be credited to a member’s account after the membership of the member in the retirement association has ceased, except under any of the following circumstances:
(1) The former member has left his or her accumulated contributions in the retirement fund and has either elected, in writing, a deferred retirement allowance, or is eligible to so elect under Section 31700 but has failed to do so.
(2) The surviving spouse of a deceased member or the legally appointed guardian of the member’s unmarried children under age 18 has elected to leave a death benefit on deposit as provided for in Section 31781.2.
(3) The former member, regardless of service, has left his or her accumulated contributions in the retirement fund and has not terminated employment.
Notes and commentary — not statutory text
History
Amended by Stats. 1997, Ch. 43, Sec. 1. Effective January 1, 1998.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=31591.
- Text hash
- sha256 6ffbcf532877dabdd59691c232e1f24199856968c93fe9347f2544170a0433ff
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
- printed fractions are shown as 1/4
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 4 provisions
Provisions in this library whose text cites Gov. Code, § 31591. Each shows the citation as that text prints it.
Government Code
- Gov. Code, § 31459Printed as Sections 31453, 31453.5, 31454, 31454.1, 31454.5, 31472, 31588.1, 31589.1, 31591, 31592.3, 31594, 31595.1, 31595.9, 31596, 31596.1, 31601.1, 31607, 31611, 31616, 31625, 31784, and 31872
- Gov. Code, § 31459.1Printed as Sections 31453, 31453.5, 31454, 31454.1, 31454.5, 31472, 31588.1, 31589.1, 31591, 31592.3, 31594, 31595.1, 31595.9, 31596, 31596.1, 31601.1, 31607, 31610, 31611, 31612, 31613, 31616, 31618, 31621.11,
- Gov. Code, § 31610Printed as Sections 31453, 31529.5, 31591, 31592, 31592.2, 31592.3, and 31871
- Gov. Code, § 31700Printed as Section 31591
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