Section 21702 Of Chapter 18. California Public Employees Retirement System School Employees Alternative System From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 18.
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.