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·Code GOV Government 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

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.

California § 31699.5. (31699.5. (Added by Stats. 2009, Ch. 326, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.