Government Code - GOV
TITLE 1. GENERAL [100 - 7931.000]
( Title 1 enacted by Stats. 1943, Ch. 134. ) DIVISION 7. MISCELLANEOUS [6000 - 7599.200]
( Division 7 enacted by Stats. 1943, Ch. 134. ) CHAPTER 21. Public Pension and Retirement Plans [7500 - 7522.74]
( Heading of Chapter 21 renumbered from Chapter 19 (as added by Stats. 1974, Ch. 1478) by Stats. 1977, Ch. 579. ) ARTICLE 1. General Provisions [7500 - 7514.7]
( Article 1 heading added by Stats. 2012, Ch. 296, Sec. 10. ) 7502.
The Controller shall review the annual financial report of each state and local public retirement system submitted pursuant to Section 7504 giving particular consideration to the adequacy of funding of each system. The Controller shall also review the triennial valuation of each public retirement system submitted pursuant to Section 7504 and shall give particular consideration to the assumption concerning the inflation element in salary and wage increases, mortality, service retirement rates, withdrawal rates, disability retirement rates, and rate of return on total assets.
The
Controller shall establish an advisory committee that shall include actuaries who have attained the designation of Associate or Fellow of the Society of Actuaries and state and local public retirement system administrators to assist in carrying out the duties imposed by this section.
(Amended by Stats. 2016, Ch. 415, Sec. 2. (AB 2375) Effective January 1, 2017.)