OCERS’ Administrative Budget represents the anticipated operating
cost for the calendar year, including funding of initiatives to
help OCERS achieve its strategic goals. The budget, prepared on
an accrual basis in accordance with Generally Accepted Accounting
Principles (GAAP), is regulated by California Government Code
Sections 31580.2 and 31596.1 and meets the administrative expense
cap of 0.21% of the Actuarial Accrued Liability.