California Government Code

§ 31596.1

GOV § 31596.1 Effective Jan 1, 1993Div. 4 · Title 3 · Part 3 · Ch. 3 · Art. 5

Statute text

The expenses of investing its moneys shall be borne solely by the system. The following types of expenses shall not be considered a cost of administration of the retirement system, but shall be considered as a reduction in earnings from those investments or a charge against the assets of the retirement system as determined by the board:

(a)The costs, as approved by the board, of actuarial valuations and services rendered pursuant to Section 31453.

(b)The compensation of any bank or trust company performing custodial services.

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Legislative history

Amended by Stats. 1992, Ch. 1047, Sec. 3. Effective January 1, 1993.