SECTIONS 21692-21703 - California Statutes

GOVERNMENT CODE

SECTION 21692-21703

21692. (a) The board may charge each participating retired member
who elects to pay the complementary health premium a one-time setup
charge and a monthly maintenance charge, in amounts sufficient to
ensure the ongoing support of the program.
(b) All development and administrative costs of the program shall
be paid by the participating retired members.

21700. The board may establish a plan for classified school
employees who are excluded from membership in this system pursuant to
Section 20305. The plan shall be made available under terms and
conditions established by the board, except to the extent
participation is subject to any memorandums of understanding between
the employer and the employees.

21701. The plan shall be designed and implemented to comply with
pertinent provisions of the federal Internal Revenue Code and federal
Internal Revenue Service regulations and guidelines.

21702. Notwithstanding any other provision of law, the board may
establish a plan fund, and retain a bank or trust company to serve as
repository of the fund. The board may also retain a bank or trust
company to serve as a custodian for safekeeping, recordkeeping,
delivery, securities valuation, investment performance reporting, or
other services in connection with investment of the fund. The board
has exclusive control of the administration and investment of the
fund. Notwithstanding Section 13340, all moneys in the plan fund are
continuously appropriated, without regard to fiscal years, for the
purposes of this chapter.

21703. All development and administration costs of the alternative
retirement plan authorized by this chapter shall be paid by school
employers and members, as determined by the board.