Section 12368 Of Article 3. Retirement Board From California Public Utilities Code >> Division 6. >> Chapter 5. >> Article 3.

. Funds held by a district pursuant to a written agreement between the district and the employees of the district to defer a portion of the compensation otherwise receivable by the district's employees and pursuant to a plan for such deferral as adopted by the board, may be invested in the types of investments set forth in Section 53609 of the Government Code.