California § 31699.5. 31699.5. (Added by Stats. 2009, Ch. 326, Sec. 1.)

California Statutes

§ 31699.5. — 31699.5. (Added by Stats. 2009, Ch. 326, Sec. 1.)

California § 31699.5.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.4.

Title 3.DIVISION 4. EMPLOYEES

Part 3.PART 3. RETIREMENT SYSTEMS

Ch. 3.CHAPTER 3. County Employees Retirement Law of 1937

Art. 8.10.ARTICLE 8.10. Post-Employment Health Benefits: San Bernardino County Alternative Fund

This text of California § 31699.5. (31699.5. (Added by Stats. 2009, Ch. 326, Sec. 1.)) 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.

Bluebook

Cal. Government Code - GOV Code § 31699.5. (2026).

Text

The investment of the assets in the postemployment health benefits fund shall be subject to the fiduciary standards governing investments under Section 17 of Article XVI of the California Constitution, as those standards apply to the management of investments of the retirement system governed by the board, notwithstanding that assets in the postemployment health benefits fund will be used to provide retiree health benefits and not retirement allowances. Each public agency and trust fund, and each governing body and member thereof, that participates in the postemployment health benefits fund shall be conclusively determined to have accepted and approved the applicability of the investment standards set forth in this article.

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The investment of the assets in the postemployment health benefits fund shall be subject to the fiduciary standards governing investments under Section 17 of Article XVI of the California Constitution, as those standards apply to the management of investments of the retirement system governed by the board, notwithstanding that assets in the postemployment health benefits fund will be used to provide retiree health benefits and not retirement allowances. Each public agency and trust fund, and each governing body and member thereof, that participates in the postemployment health benefits fund shall be conclusively determined to have accepted and approved the applicability of the investment standards set forth in this article.