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HomeGovernment CodeDiv. 2Pt. 2Ch. 5§ 10605 Pension Investment Expert Board

§ 10605 Pension Investment Expert Board

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

§ 10605 Pension Investment Expert Board

Key Takeaways

  • •A group of money and pension experts will be formed to give advice.
  • •This group includes people who manage big retirement funds, like for teachers and government workers.
  • •They can get paid back for any costs they have while doing this job.
  • •An extra math expert (actuary) will help them with tricky money questions.

Example

Imagine your school’s teacher retirement fund needs help figuring out how to invest money safely.

This law says a special team of experts—like the people who already manage big retirement funds—will be created to give advice. They can also bring in a math expert to help with numbers. If they spend money on travel or meetings, they’ll get that money back.

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

Official Source
View on CA.gov

§ 10605 Pension Investment Expert Board

The committee shall establish a board of experts. The board of experts shall include: the Controller, the chairpersons of the investment committees of the Board of Administration of the Public Employees’ Retirement System and the Teachers’ Retirement Board, the presidents of those boards, the executive officers of those systems, the chiefs of investment of those systems, the chief actuaries of those systems, the pension managers and treasurers of two corporations, a manager of a city pension fund, and a manager of a county pension fund. The committee shall retain as a consultant to the board of experts an independent actuary. The board of experts shall be reimbursed for its actual and necessary expenses. (Added by Stats. 1982, Ch. 1155, Sec. 4.)

Last verified: January 22, 2026

Key Terms

board of expertsindependent actuaryactual and necessary expenses

Related Statutes

  • § 10600 Public Retirement System Coordination
  • § 10601 Public Retirement System Oversight
  • § 10602 Legislative Committee Membership Rules
  • § 10603 Committee Rules And Powers
  • § 10604 Committee Staffing And Funding

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 10605.
View Official Source