Gov. Code, § 31618 · Article 5.5. Alternative Financial Provisions
Gov. Code, § 31618
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The board shall establish a Supplemental Retiree Benefit Reserve in the retirement system consisting of any amount previously in the reserve against deficiencies, which on the date of adoption of this article, exceeds 3 percent of the assets of the retirement fund, or any lesser amount, as determined by the board. In no event, however, shall the balance of the Contingency Reserve Account be reduced below 1 percent of system assets for this purpose. The Supplemental Retiree Benefit Reserve shall be used only for the benefit of retired members and beneficiaries.
Commencing on the date of adoption of this article, there shall be a semiannual transfer into this reserve of 50 percent of the balance of net earnings, as defined in Section 31613, after crediting all accounts pursuant to Section 31615, rebuilding the Contingency Reserve Account pursuant to Section 31616 and paying the part of the cost-of-living contributions pursuant to Section 31617, if applicable.
The distribution of the Supplemental Retiree Benefits Reserve shall be determined by the board.
Notes and commentary — not statutory text
History
Added by renumbering Section 31510.8 by Stats. 1984, Ch. 193, Sec. 62.
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=31618.
- Text hash
- sha256 8da42c0685bad7b88c8f2143a5b133279991d6281ae5c5c30764b69dc51af0a6
- 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
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 9 provisions
Provisions in this library whose text cites Gov. Code, § 31618. Each shows the citation as that text prints it.
Government Code
- Gov. Code, § 31459Printed as Sections 31510.4, 31522, 31523, 31524, 31525, 31528, 31529, 31529.5, 31595, 31618, 31680, and 31680.1
- 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, § 31616Printed as Sections 31617, 31618, and 31619
- Gov. Code, § 31619Printed as Section 31618
- Gov. Code, § 31691Printed as Section 31618
- Gov. Code, § 31691.1Printed as Section 31618
- Gov. Code, § 31789.12Printed as Section 31618
- Gov. Code, § 31789.5Printed as Section 31618
- Gov. Code, § 31874.3Printed as Section 31618
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