SECTIONS 22960.35-22960.40 - California Statutes

GOVERNMENT CODE

SECTION 22960.35-22960.40

22960.35. (a) Except as provided in this part, the plan shall be
administered by the board in conformity with its powers and duties
for administration of the system as set forth in Part 3 (commencing
with Section 20000). The board shall, to the extent that it
determines feasible, follow the procedures set forth in Article 7
(commencing with Section 20220) of Chapter 2 of Part 3.
(b) The board may retain a third-party administrator to perform
recordkeeping, customer service or other plan administration
services.
(c) The board shall notify the Department of Personnel
Administration when it is prepared to implement the plan.

22960.36. (a) The board shall adopt a trust instrument embodying
the material terms and conditions of the plan consistent with this
part and the applicable provisions of Title 26 of the United States
Code.
(b) The board may, as it deems necessary, amend the plan
consistent with this part and the applicable provisions of Title 26
of the United States Code.
(c) The board shall provide reasonable notice to each plan
participant of any plan amendment.

22960.37. In administering the plan, the officers and employees of
the system shall discharge their duties with respect to the plan
solely in the interest of the participants and beneficiaries:
(a) In accordance with the documents and instruments governing the
plan insofar as those documents and instruments are consistent with
this part.
(b) For the exclusive purpose of both of the following:
(1) Providing benefits to participants and their beneficiaries.
(2) Defraying reasonable expenses of administering the plan.
(c) By investing with the care, skill, prudence, and diligency
under the circumstances then prevailing that a prudent person acting
in a like capacity and familiar with those matters would use in the
conduct of an enterprise of a like character and with like aims.

22960.38. With regard to the plan, the board shall not engage in
any transaction prohibited by Section 503(b) of Title 26 of the
United States Code.

22960.39. The board may require a third-party administrator,
recordkeeper, custodian, or investment manager that is contracted
with, or appointed by the system, to be subject to the duties set
forth in Section 22960.37.

22960.40. Data filed by any participant or beneficiary with the
board is confidential, and no individual record shall be divulged by
any official or employee having access to that data to any person
other than the participant to whom the information relates or his or
her authorized representative, employer, or any state department or
agency. The information shall be used by the board for the sole
purpose of carrying into effect the provisions of this part. Any
information that is requested for retirement purposes by any public
agency shall be treated as confidential by the agency.
(a) The board may seek reimbursement for reasonable administrative
expenses incurred when providing that information. Except as
provided by this section, no participant's or beneficiary's address,
home telephone number, or other personal information shall be
released.
(b) For purposes of this section, "authorized representative"
includes the spouse or beneficiary of a participant when no contrary
appointment has been made and when, in the opinion of the board, the
participant is prevented from appointing an authorized representative
because of mental or physical incapacity or death.