§ 31508
60 words·~1 min read·
/ca/government-code/31508A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The assets shall be administered solely by the board subject to the provisions of this chapter as to the custody, investment, and disbursement of the retirement fund. If there are assets of the superseded system remaining after the termination of all liabilities of the superseded system, the remaining assets shall be transferred to and become part of the retirement fund.