California § 22960.37. 22960.37. (Added by Stats. 1998, Ch. 820, Sec. 11.)

California Statutes

§ 22960.37. — 22960.37. (Added by Stats. 1998, Ch. 820, Sec. 11.)

California § 22960.37.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.5.

Title 2.DIVISION 5. PERSONNEL

Part 7.PART 7. STATE PEACE OFFICERS' AND FIREFIGHTERS' DEFINED CONTRIBUTION PLAN

Ch. 3.CHAPTER 3. Administration of the Plan

This text of California § 22960.37. (22960.37. (Added by Stats. 1998, Ch. 820, Sec. 11.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Cal. Government Code - GOV Code § 22960.37. (2026).

Text

In administering the plan, the officers and employees of the system shall discharge their duties with respect to the plan solely in the interest of the participants and beneficiaries:

(a)In accordance with the documents and instruments governing the plan insofar as those documents and instruments are consistent with this part.

(b)For the exclusive purpose of both of the following:

(1)Providing benefits to participants and their beneficiaries.

(2)Defraying reasonable expenses of administering the plan.

(c)By investing with the care, skill, prudence, and diligency under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an enterprise of a like character and with like aims.

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In administering the plan, the officers and employees of the system shall discharge their duties with respect to the plan solely in the interest of the participants and beneficiaries:
(a)
In accordance with the documents and instruments governing the plan insofar as those documents and instruments are consistent with this part.
(b)
For the exclusive purpose of both of the following:
(1)
Providing benefits to participants and their beneficiaries.
(2)
Defraying reasonable expenses of administering the plan.
(c)
By investing with the care, skill, prudence, and diligency under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an enterprise of a like character and with like aims.