§ 31597 Retirement System Financial Report

• •The retirement board must check how much money the retirement system has every year.
• •They have to write a report about the money situation by June 30th.
• •The report must be sent to the county auditor and the board of supervisors.
• •The report must be true and signed under oath.

Imagine you have a piggy bank for your class at school. Every year, the teacher has to count all the money in the piggy bank and write down how much was added or taken out.

Just like the teacher, the retirement board has to count all the money in the retirement system every year and tell the county officials about it. They have to do this by June 30th and promise that what they wrote is true.