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HomeEducation CodeDiv. 1Pt. 13Ch. 38Art. 2§ 25003 Reserve Fund Transfer Authority

§ 25003 Reserve Fund Transfer Authority

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 25003 Reserve Fund Transfer Authority

Key Takeaways

  • •The board can move money between two special funds: the Gain and Loss Reserve and the Annuitant Reserve.
  • •This can only happen if an actuary (a money expert) says it's a good idea.
  • •The rule was added in the year 2000 and started working in 2001.

Example

Imagine you have two piggy banks at home: one for extra money (Gain and Loss Reserve) and one for your allowance (Annuitant Reserve).

If your mom (the actuary) thinks it's better to move some money from your extra money piggy bank to your allowance piggy bank, she can tell you (the board) to do it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 25003 Reserve Fund Transfer Authority

The board may transfer amounts between the Gain and Loss Reserve and the Annuitant Reserve upon the recommendation of the actuary. (Added by Stats. 2000, Ch. 74, Sec. 69. Effective January 1, 2001.)

Last verified: January 23, 2026

Key Terms

Gain and Loss ReserveAnnuitant Reserveactuary

Related Statutes

  • § 25002 Annuitant Reserve Management
  • § 25005 Defined Benefit Supplement Interest Rates
  • § 25006 Additional Earnings Credit Declaration
  • § 26205 Reserve Fund Transfer Authority
  • § 25001 Gain And Loss Reserve

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 25003.
View Official Source