reglab/statecodes huggingface dataset:
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 2 - Program Accounts › Section 25008.

25008. A member’s right to an amount equal to the member’s Defined Benefit Supplement account balance shall be vested at the time contributions are initially credited to the member’s account.
(Amended (as added by Stats. 2000, Ch. 74) by Stats. 2000, Ch. 1021, Sec. 50. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 2 - Program Accounts › Section 25008.5.

25008.5. Notwithstanding any other law, if (a) a member or beneficiary whose effective date for a benefit received pursuant to any other chapter of this part was prior to January 1, 2010, (b) the member or beneficiary was required to receive a distribution of the balance of credits from the member’s Defined Benefit Supplement account pursuant to this chapter, and (c) the member or beneficiary failed to submit an application for the distribution of the member’s Defined Benefit Supplement account prior to January 1, 2010, the system shall distribute the balance of credits in the member’s Defined Benefit Supplement account in a lump-sum payment to the member or beneficiary, as applicable, by March 31, 2010.
(Added by Stats. 2009, Ch. 304, Sec. 27. (SB 634) Effective January 1, 2010.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 3 - Retirement Benefits › Section 25009.

25009. (a) A member’s retirement benefit under the Defined Benefit Supplement Program shall be an amount equal to the balance of credits in the member’s Defined Benefit Supplement account on the date the retirement benefit becomes payable.
(b) A retirement benefit shall be a lump-sum payment, or an annuity payable in monthly installments, or a combination of both a lump-sum payment and an annuity, as elected by the member on the application for a retirement benefit. Any retirement benefit paid as an annuity under this chapter shall be subject to Section 25011 or 25011.1.
(c) Upon distribution of the entire retirement benefit in a lump-sum payment, no other benefit shall be payable to the member or the member’s beneficiary under the Defined Benefit Supplement Program.
(d) A member may not apply a lump-sum payment made to the member pursuant to this section for any of the following purposes:
(1) Purchasing service credit pursuant to Chapter 14 (commencing with Section 22800), Chapter 14.2 (commencing with Section 22820), or Chapter 14.5 (commencing with Section 22850).
(2) Redepositing previously refunded retirement contributions pursuant to Chapter 19 (commencing with Section 23200).
(Amended by Stats. 2007, Ch. 323, Sec. 18. Effective January 1, 2008.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 3 - Retirement Benefits › Section 25010.

25010. (a) A member who meets the following eligibility requirements shall receive a retirement benefit under the Defined Benefit Supplement Program:
(1) The member has terminated all employment to perform creditable service subject to coverage by the plan. The member’s employer, or employers if the member has multiple employers, shall certify on a form prescribed by the system that the member’s employment has been terminated.
(2) The member has retired for service under the Defined Benefit Program pursuant to Chapter 27 (commencing with Section 24201).
(b) A member shall submit an application for a retirement benefit on a form prescribed by the system.
(c) A member retiring for service pursuant to Chapter 27 (commencing with Section 24201) on or after January 1, 2010, shall not receive an allowance pursuant to Chapter 27 unless the member has submitted a completed application pursuant to subdivision (b).
(Amended by Stats. 2009, Ch. 304, Sec. 28. (SB 634) Effective January 1, 2010.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 4 - Annuities › Section 25012.

25012. (a) Except as provided in subdivision (b), an annuity payable under the Defined Benefit Supplement Program shall be determined as a value actuarially equivalent to the balance of credits in the member’s Defined Benefit Supplement Program account on the member’s retirement date and after any lump-sum payment. If a single life annuity is elected, the annuity shall be calculated using the age of the member on the member’s retirement date. A member may elect a single life annuity only if the member did not elect to receive a modified allowance pursuant to Section 24300 or 24300.1. If a joint and survivor annuity is elected, the annuity shall be calculated using the age of the member and the age of the member’s beneficiary on the member’s annuity effective date. A member may elect a joint and survivor annuity only if the member elected to receive a modified allowance pursuant to Section 24300 or 24300.1.
(b) If a member elected to receive an annuity pursuant to Section 25018 or 25018.1, and if the member is still receiving the annuity at the time the member’s disability allowance is terminated pursuant to Section 24213, the annuity already in effect shall continue upon the member’s service retirement provided the member’s service retirement benefit effective date is the day after the disability allowance termination date.
(c) The beneficiary designation made pursuant to Section 24307 is not applicable to benefits payable under this chapter.
(Amended by Stats. 2018, Ch. 416, Sec. 20. (SB 1165) Effective January 1, 2019.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 4 - Annuities › Section 25013.

25013. Upon election by the member to receive a benefit payable under the Defined Benefit Supplement Program in the form of an annuity, the balance of credits in the member’s Defined Benefit Supplement account shall be transferred to the Annuitant Reserve.
(Added by Stats. 2000, Ch. 74, Sec. 69. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 4 - Annuities › Section 25014.

25014. (a) If a member reinstates from service retirement under this part, payment of a retirement annuity based on the balance of credits that was transferred from the member’s Defined Benefit Supplement account to the Annuitant Reserve shall terminate. The member’s Defined Benefit Supplement account shall be credited with the actuarial equivalent of the member’s annuity as of the date the annuity is terminated and the Annuitant Reserve shall be reduced by the amount credited to the member’s account.
(b) If the member subsequently retires again, an annuity or lump-sum payment based on the remaining balance of credits in the member’s Defined Benefit Supplement account at the time of the subsequent retirement shall become payable pursuant to Section 24202.5 and the balance of credits in the member’s Defined Benefit Supplement account shall be transferred to the Annuitant Reserve or paid to the member in the form of a lump-sum payment.
(Amended by Stats. 2001, Ch. 803, Sec. 26. Effective January 1, 2002.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 5 - Disability Benefits › Section 25016.

25016. (a) A member’s disability benefit under the Defined Benefit Supplement Program shall be an amount equal to the balance of credits in the member’s Defined Benefit Supplement account on the date the disability benefit becomes payable.
(b) A disability benefit shall be a lump-sum payment, or an annuity payable in monthly installments, or a combination of both a lump-sum payment and an annuity, as elected by the member on the application for a disability benefit. Any retirement benefit paid as an annuity under this chapter shall be subject to Section 25018 or 25018.1.
(c) Upon distribution of the entire disability benefit in a lump-sum payment, no other benefit shall be payable to the member or the member’s beneficiary under the Defined Benefit Supplement Program.
(Amended by Stats. 2006, Ch. 655, Sec. 56. Effective January 1, 2007.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 5 - Disability Benefits › Section 25017.

25017. (a) A member shall receive a disability benefit under the Defined Benefit Supplement Program beginning on the effective date of the member’s disability allowance pursuant to Chapter 25 (commencing with Section 24001) or a disability retirement allowance pursuant to Chapter 26 (commencing with Section 24100) under the Defined Benefit Program.
(b) The member, or the member’s employer or conservator on behalf of the member, shall submit an application for a disability benefit on a form prescribed by the system.
(c) A member whose disability allowance or disability retirement allowance is effective on or after January 1, 2010, shall not receive an allowance pursuant to Chapter 25 (commencing with Section 24001) or Chapter 26 (commencing with Section 24100), as applicable, unless the member has submitted a completed application pursuant to subdivision (b).
(Amended by Stats. 2009, Ch. 304, Sec. 30. (SB 634) Effective January 1, 2010.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 5 - Disability Benefits › Section 25018.5.

25018.5. When a disabled member returns to work in his or her former position of employment or in a comparable level position and within six months of return experiences a recurrence of the original disability, it shall be considered, for the purpose of determining the duration of the disability, that the condition had its onset as of the date the member first became disabled. The former Defined Benefit Supplement disability benefit under this chapter shall again become payable as of the later of the first day of the month in which the recurrence of the disability occurred or the last day of service for which compensation is payable to the member provided the member complies with the provisions of Section 24003 or 24103, as applicable.
(Amended by Stats. 2003, Ch. 859, Sec. 31. Effective January 1, 2004.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 5 - Disability Benefits › Section 25019.

25019. (a) If a member’s disability allowance or disability retirement allowance under this part is terminated, payment of a disability annuity based on the balance of credits transferred from the member’s Defined Benefit Supplement account to the Annuitant Reserve also shall terminate. The member’s Defined Benefit Supplement account shall be credited with the actuarial equivalent of the member’s annuity as of the date the annuity is terminated and the Annuitant Reserve shall be reduced by the amount credited to the member’s account.
(b) If a disability allowance or a service or disability retirement allowance subsequently becomes payable again, an annuity or lump-sum payment based on the remaining balance of credits in the member’s Defined Benefit Supplement account at the time of the subsequent disability or service or disability retirement becomes payable and the balance of credits in the member’s Defined Benefit Supplement account shall be transferred to the Annuitant Reserve or paid to the member in the form of a lump-sum payment.
(c) This section shall not apply to a member whose annuity continues pursuant to subdivision (b) of Section 25012.
(Amended by Stats. 2018, Ch. 416, Sec. 24. (SB 1165) Effective January 1, 2019.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 6 - Final Benefits › Section 25020.

25020. (a) A final benefit under the Defined Benefit Supplement Program shall become payable when the system receives proof of the member’s death. For a member who died on or after January 1, 2010, no benefit shall be paid to a beneficiary of the member pursuant to other chapters of this part until the final benefit is paid pursuant to this article.
(b) If the member’s death occurs before an annuity under the Defined Benefit Supplement Program becomes payable, the final benefit shall be an amount equal to the balance of credits in the member’s Defined Benefit Supplement account on the date of the member’s death, plus minimum interest credited through the date of payment.
(c) Upon distribution of a final benefit in a lump-sum payment, no other benefit shall be payable under the Defined Benefit Supplement Program to the member’s beneficiary.
(Amended by Stats. 2009, Ch. 304, Sec. 31. (SB 634) Effective January 1, 2010.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 6 - Final Benefits › Section 25021.

25021. (a) A beneficiary, other than an entity, may elect to receive the final benefit payable under the Defined Benefit Supplement Program as an annuity payable in monthly installments provided the balance of credits in the member’s Defined Benefit Supplement account that is payable to that beneficiary equals at least three thousand five hundred dollars ($3,500).
(b) A beneficiary who elects to receive an annuity under this section shall elect a period certain annuity. This form of payment is an annuity equal to the actuarial equivalent of the balance of credits in the member’s Defined Benefit Supplement account on the date of the member’s death. The annuity shall be payable in whole year increments over a period of years specified by the beneficiary, from a minimum of three years to a maximum of 10 years, but not to exceed the life expectancy of the beneficiary. The beneficiary may designate a payee to receive the remaining balance of payments if the beneficiary’s death occurs prior to the end of the period certain.
(c) A beneficiary may designate a payee who would, upon the death of the beneficiary, be entitled to receive the beneficiary’s accrued annuity allowance.
(Amended by Stats. 2006, Ch. 655, Sec. 60. Effective January 1, 2007.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 6 - Final Benefits › Section 25022.

25022. (a) If the death of a member occurs while the member is receiving an annuity under the Defined Benefit Supplement Program, the final benefit shall be payable in accordance with the terms of the annuity elected by the member.
(b) If the member was receiving a single life annuity without a cash refund feature, a final benefit is not payable other than the accrued annuity for the month in which the member’s death occurred, which shall be paid in a lump sum to the beneficiary designated by the member pursuant to Section 23300 or 23301.
(c) If the member was receiving a single life annuity with a cash refund feature, the final benefit shall be payable in a lump sum to the beneficiary designated by the member pursuant to Section 23300 or 23301.
(d) If the member was receiving a joint and survivor annuity, the annuity shall continue to be paid to the surviving designated annuity beneficiary. If the designated annuity beneficiary predeceases the member, a final benefit is not payable.
(e) If the member was receiving a period certain annuity, the remaining balance of payments shall be paid to the beneficiary designated by the member.
(1) If the beneficiary is designated pursuant to Section 23300, the remaining period certain annuity payments shall be made over the amount of time remaining in the period originally elected by the deceased member and shall be made in payments equal to the amount of the annuity payments previously received by the deceased member.
(2) If the beneficiary is designated pursuant to Section 23301, the remaining balance of period certain annuity payments shall be made in a lump-sum payment equal to the present value of the balance of payments due over the time remaining in the period originally elected by the deceased member.
(f) A member may designate a beneficiary who would, upon the death of the member, be entitled to the member’s accrued annuity allowance.
(Amended by Stats. 2013, Ch. 558, Sec. 50. (AB 1379) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 6 - Final Benefits › Section 25022.5.

25022.5. (a) If the death of a nonmember spouse occurs while the nonmember spouse is receiving an annuity under the Defined Benefit Supplement Program, the final benefit shall be payable in accordance with the terms of the annuity elected by the nonmember spouse.
(b) If the nonmember spouse was receiving a single life annuity without a cash refund feature, a final benefit is not payable.
(c) If the nonmember spouse was receiving a single life annuity with a cash refund feature, the final benefit shall be payable in a lump sum to the nonmember spouse’s beneficiary.
(d) If the nonmember spouse was receiving a period certain annuity, the remaining balance of payments shall be paid to the payee designated by the nonmember spouse pursuant to Section 22660.
(1) If the beneficiary is a person, the remaining period certain annuity payments shall be made over the amount of time remaining in the period originally elected by the deceased member and shall be made in payments equal to the amount of the annuity payments previously received by the deceased member.
(2) If the beneficiary is not a person, the remaining balance of period certain annuity payments shall be made in a lump-sum payment equal to the present value of the balance of payments due over the time remaining in the period originally elected by the deceased member.
(Amended by Stats. 2017, Ch. 298, Sec. 20. (AB 1325) Effective January 1, 2018.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 6 - Final Benefits › Section 25023.

25023. (a) Upon the death of an annuity beneficiary who was receiving an annuity under a joint and survivor annuity elected by the member no further payment shall be made other than the accrued annuity for the month in which the annuity beneficiary’s death occurred, which shall be paid in a lump sum to the payee designated by the annuity beneficiary.
(b) Upon the death of a beneficiary who was receiving a single life annuity without a cash refund feature, no further payment shall be made other than the accrued annuity for the month in which the beneficiary’s death occurred, which shall be paid in a lump sum to the payee designated by the beneficiary.
(c) Upon the death of a beneficiary who was receiving a period certain annuity, the actuarial equivalent of the remaining balance of payments shall be paid in a lump sum to the payee designated by the beneficiary pursuant to subdivision (c) of Section 25015.
(Amended by Stats. 2002, Ch. 375, Sec. 34. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 7 - Termination Benefits › Section 25024.

25024. (a) Upon the termination of all employment to perform creditable service subject to coverage under the plan for a reason other than retirement, disability, or death, a member shall be eligible for a termination benefit under the Defined Benefit Supplement Program.
(b) A member shall submit an application for a termination benefit on a form prescribed by the system. If a member submits an application for a refund of contributions under the Defined Benefit Program, pursuant to Section 23103, that application shall also be deemed an application for a termination benefit. If a member cancels the application for a refund of contributions under the Defined Benefit Program, the application for the termination benefit shall also be deemed to have been canceled.
(c) The member’s employer or employers shall certify in a format prescribed by the system that the member’s employment has been terminated, unless the member’s termination of employment occurred 12 consecutive months or more prior to the date the application for a termination benefit is received by the system’s headquarters office.
(d) The termination benefit shall be a lump-sum payment that is equal to the balance of credits in the member’s Defined Benefit Supplement account.
(e) Upon distribution of the termination benefit, no further benefit shall be payable to the member or the member’s beneficiary under the Defined Benefit Supplement Program.
(f) A partial distribution of the balance of credits in a member’s Defined Benefit Supplement account shall not be made, except as provided in Section 25009, 25015, 25016, or 25022.
(Amended by Stats. 2019, Ch. 96, Sec. 22. (AB 644) Effective January 1, 2020.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 7 - Termination Benefits › Section 25024.5.

25024.5. A member who is reemployed and again performs creditable service subject to coverage under the plan may not receive a termination benefit under this part if less than five years have elapsed following the date the most recent termination benefit was distributed to the member. This section does not apply to a member who has reached the age at which the Internal Revenue Code of 1986 requires a distribution of benefits.
(Added by Stats. 2005, Ch. 661, Sec. 2. Effective January 1, 2006.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 38 - Defined Benefit Supplement Program › ARTICLE 7 - Termination Benefits › Section 25025.

25025. (a) A termination benefit under the Defined Benefit Supplement Program shall be payable after 180 calendar days have elapsed following the date the member terminated employment as specified in Section 25024.
(b) Except as provided in subdivision (c), the application for the termination benefit shall be automatically canceled if the member performs creditable service within 180 calendar days following the date of termination of employment.
(c) Subdivision (b) does not apply if the member has reached that age at which the Internal Revenue Code of 1986 requires a distribution of benefits. A member who has reached this age shall receive a distribution commencing on the earlier of the date that the member has met the conditions of subdivision (a) or the conditions of subdivision (h) of Section 24600.
(Amended by Stats. 2020, Ch. 275, Sec. 15. (AB 2101) Effective January 1, 2021.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25100.

25100. (a) The board shall establish a vendor registration process through which information about tax-deferred retirement investment products as described in Section 403(b) of the Internal Revenue Code of 1986 shall be made available for consideration by public employees of all local school districts, community college districts, county offices of education, and state employees of a state employer under the uniform state payroll system, excluding the California State University System, eligible to participate in an annuity contract and custodial account as described in Section 403(b) of the Internal Revenue Code of 1986.
(b) For the purposes of this chapter, “403(b) product or 403(b) products” means tax-deferred retirement investment products as described in Section 403(b) of the Internal Revenue Code of 1986, and its subsequent amendments, and complying with applicable California insurance laws, and federal and California securities laws and rules as applied by appropriate regulatory entities.
(c) For the purposes of this chapter:
(1) “Employer” means any local school district, community college district, or county office of education, or any state employer under the uniform state payroll system, excluding the California State University System, with employees eligible to participate in an annuity contract and custodial account as described in Section 403(b) of the Internal Revenue Code of 1986, with the Controller acting on the state employer’s behalf.
(2) “Vendor” means:
(A) A public retirement system, broker-dealer, registered investment company, nonbank custodian, or life insurance company qualified to do business in California that provides a 403(b) product. “Vendor” does not include individual registered representatives, brokers, financial planners, or agents.
(B) A statewide employee organization with an active membership primarily composed of persons employed in public education, or its wholly controlled affiliate, that has entered into a legally binding agreement with a bank custodian, as described in Section 401(f)(2) of the Internal Revenue Code, for the purpose of offering a custodial account meeting the requirements of Section 403(b)(7) of the Internal Revenue Code.
(3) “Nonbank custodian” means a fund custodian, other than a bank, that meets the criteria of a trustee specified in Section 408(a)(2) of the Internal Revenue Code.
(4) “Broker-dealer” means only those broker-dealers who offer a proprietary 403(b) product or who charge fees that are otherwise not disclosed.
(Amended by Stats. 2014, Ch. 755, Sec. 73. (SB 1220) Effective January 1, 2015.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25102.

25102. Registration shall be offered to vendors once annually, and renewal of registration shall be required at least once every five years thereafter for vendors that wish to continue to participate. The board shall provide public notice prior to the initial registration, annual registration, and registration renewal periods. The board may require, through a password-based update system that allows vendors to access the registration list for the purposes of updating their product information, or through other means, an update of the information required to be provided under Section 25101 with each registration renewal. Registered vendors shall submit to the board within the time required by the Securities and Exchange Commission an amendment to the information required to be provided under Section 25101 to reflect material changes to the products or services offered that occur between registration or renewal periods. Registered vendors may register additional 403(b) products with the board between registration or renewal periods by providing the board the information required under Section 25101 and fees required under subdivision (c) of Section 25108. Upon receipt of information reflecting material changes or additions to the products or services offered by registered vendors that occur between registration or renewal periods, the board shall reflect those changes in the impartial investment information bank established pursuant to Section 25104 within the time required by the Securities and Exchange Commission.
(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25103.

25103. (a) The board may remove a vendor from the registry if the vendor submits materially inaccurate information to the board, does not remit assessed fees within 60 days, or fails to submit notice of material changes to its registered investment products, pursuant to Section 25102. Vendors found to have submitted materially inaccurate information to the board shall be allowed 60 days to correct the information. The board may refer vendors that submit information required under Section 25102 that is materially inaccurate and may constitute conduct prohibited by the Financial Industry Regulatory Authority and the California Department of Insurance to those entities.
(b) The board shall remove a vendor from the registry if the vendor is not licensed or has had its license revoked by the Financial Industry Regulatory Authority or the California Department of Insurance for engaging in conduct prohibited by those entities.
(c) The board shall establish an appeals process pursuant to Section 22219 for vendors that are denied registration or removed from the registry.
(Amended by Stats. 2013, Ch. 558, Sec. 52. (AB 1379) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25104.

25104. (a) The board shall maintain an impartial investment information bank, via an Internet Web site, containing the information required by Section 25101 about the retirement investment products offered by each registered vendor and objective comparisons of vendors and types of products.
(b) The information bank shall include information on investment performance based upon the investment’s average annual total return, as measured by a nationally recognized rating service selected by the board for standard periods of time of not less than one year.
(c) The Web site shall include a table showing, for each registered fund, the total fee cost in dollars incurred by a shareholder who initially invested ten thousand dollars ($10,000), earned a 5 percent rate of return for one, five, 10, 15, and 20 year time periods. This table shall be accompanied by a disclaimer that the rate of return is for purposes of illustrating the respective impacts of different fee amounts on each investment, and is not to predict future investment returns.
(d) The board shall have the authority to organize data, but may not subjectively rank or give preference to a vendor or product.
(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25105.

25105. The board shall include notice of the existence of, and the Internet Web site address for, the impartial investment information bank in each newsletter sent to members. The board shall include a notice in the individual account statements of members of the Defined Benefit Program and participants of the Cash Balance Benefit Program that explains the purpose and Web site address of the impartial investment information bank.
(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25106.

25106. The board shall design the information bank Internet Web site and include retirement investment product plan information and education materials taken from and referenced to the Internal Revenue Service, the Securities and Exchange Commission, the National Association of Insurance Commissioners, and other applicable governmental or regulatory agencies. Information shall be presented and used in a manner that is consistent with the rules of those agencies and with rules of the Financial Industry Regulatory Authority. The information shall be offered as a preface to the vendor information required in Section 25101. The preface shall include, but shall not be limited to, the following information:
(a) An explanation of Section 403(b) of the Internal Revenue Code of 1986.
(b) The retirement investment products that may be purchased under Section 403(b) of the Internal Revenue Code of 1986, and with definitions of those products.
(c) Definitions or explanations of all fees referred to in the investment information bank.
(Amended by Stats. 2013, Ch. 558, Sec. 53. (AB 1379) Effective January 1, 2014.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25107.

25107. A vendor may not charge a fee associated with a registered 403(b) product that is not disclosed, pursuant to Section 25101.
(Amended by Stats. 2004, Ch. 912, Sec. 26. Effective January 1, 2005.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25108.

25108. (a) The actual cost of establishing the vendor registration system and the investment information bank shall be borne equally by registered vendors, based on the total number of registered vendors. Each registered vendor shall pay a one-time establishment fee equal to a pro rata share of the establishment costs charged to vendors that register with the board prior to the close of the initial registration period, as determined by the board. The one-time establishment fee charged to vendors that register with the board after the completion of the initial registration period shall be distributed equally among registered vendors that have paid the establishment fee, and credited toward subsequent maintenance and administrative fees charged to each vendor.
(b) The actual cost of maintaining the vendor registration system and the investment information bank, and the costs associated with publicizing the availability of the investment information bank to local school districts, community college districts, and county offices of education and their employees, shall be borne equally by registered vendors, based on the total number of registered vendors. Each registered vendor shall pay a renewal fee equal to a pro rata share of the maintenance costs, as determined by the board.
(c) Each registered vendor shall pay an administrative fee for each 403(b) product it offers to school employees, which shall represent the actual costs associated with processing the information related to the investment option and presenting it on the investment information bank, as determined by the board.
(d) The board may not divert member services resources or personnel to establish or maintain the registration list.
(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25109.

25109. (a) The board and the system, and its officers and employees, are not responsible for, and may not be held liable for the adequacy of the information provided by the participating vendors contained in the information bank. The information bank maintained by the board serves only to provide information supplied by the participating vendors for the consideration of selection of 403(b) products.
(b) Participating vendors may not utilize the system’s logo, or claim or infer any endorsement or recommendation by the board or the system with respect to products and services identified by the vendors in the information bank. At the discretion of the board, a violation of this section may lead to removal from the registry. This restriction does not apply to 403(b) products offered by the board to school employees pursuant to Section 24950.
(c) The board and the system may not be held liable for the actions of other registered vendors.
(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25110.

25110. The board shall complete the initial registration process on or before July 1, 2004.
(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25111.

25111. Each employer, in consultation with the exclusive bargaining agent of its employees, if any, may develop a process to ensure that employees are aware of, and have access to, information provided in the impartial investment bank maintained by the board.
(Amended by Stats. 2008, Ch. 230, Sec. 5. Effective January 1, 2009.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25112.

25112. Personnel, including elected school officials, acting on behalf of an employer, may not receive consideration from a vendor in exchange for the promotion of a particular vendor or vendor’s products.
(Amended by Stats. 2008, Ch. 230, Sec. 6. Effective January 1, 2009.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25113.

25113. An employer may not forward annuity or custodial account consideration to the vendor of any unregistered 403(b) product, except insofar as an employee continues making contributions to an unregistered product or products as described in Section 25114.
(Amended by Stats. 2008, Ch. 230, Sec. 7. Effective January 1, 2009.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25114.

25114. Except as provided in this section, an employee shall select from registered 403(b) products.
(a) An employee of a local school district, community college district, or county office of education may continue to make contributions to unregistered products purchased or entered into prior to November 30, 2004.
(b) A state employee of a state employer under the uniform state payroll system, excluding the California State University System, eligible to participate in an annuity contract and custodial account as described in Section 403(b) of the Internal Revenue Code of 1986, may continue to make contributions to unregistered products purchased or entered into prior to January 1, 2009.
(Amended by Stats. 2012, Ch. 864, Sec. 18. (AB 2663) Effective January 1, 2013.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13 - STATE TEACHERS' RETIREMENT SYSTEM › CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank › Section 25115.

25115. For purposes of restricting the use of 403(b) investment products provided to eligible employees of employers by those vendors and investment products registered with the board pursuant to this chapter, the provisions of Section 770.3 of the Insurance Code do not apply.
(Amended by Stats. 2008, Ch. 230, Sec. 9. Effective January 1, 2009.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 1 - General Provisions › Section 25900.

25900. (a) All costs incurred by the system to develop health care benefit programs pursuant to this part shall be paid by allocations from the Teachers’ Retirement Fund as appropriated for that purpose.
(b) Any health care benefits program developed by the system pursuant to this part shall not be implemented by the system unless specifically authorized by a statute enacted by the Legislature.
(Added by renumbering Section 25000 by Stats. 2000, Ch. 1032, Sec. 2. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25901.

25901. Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this part.
(Added by renumbering Section 25100 by Stats. 2000, Ch. 74, Sec. 64. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25910.

25910. “Beneficiary” or “beneficiaries” means any person or entity receiving or entitled to receive an allowance and payment pursuant to Part 13 (commencing with Section 22000) or 14 (commencing with Section 26000) because of the disability or death of a member.
(Added by renumbering Section 25110 by Stats. 2000, Ch. 74, Sec. 65. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25915.

25915. (a) “Dependent child” or “dependent children” means a member’s unmarried offspring or stepchild who is not older than 22 years of age and who is financially dependent upon the member on the date the member becomes eligible for benefits pursuant to this part.
(b) “Offspring” shall include the member’s child who is born within the 10-month period commencing on the date the member becomes eligible for benefits pursuant to this part.
(c) “Offspring” shall include a child adopted by the member.
(d) “Dependent child” shall not include the member’s offspring or stepchild who is adopted by a person other than the member’s spouse.
(e) “Financially dependent,” for purposes of this section, means that at least one-half of the child’s support was being provided by the member on the date the member became eligible for benefits pursuant to this part. The system may require that income tax records or other data be submitted to substantiate the child’s financial dependence. In the absence of substantiating documentation, the system may determine that the child was not dependent on the date the member became eligible for benefits pursuant to this part.
(Added by renumbering Section 25115 by Stats. 2000, Ch. 74, Sec. 66. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25920.

25920. “Dependent parent” or “dependent parents” means a natural parent or parents of a member, or a parent or parents who adopted the member prior to the earlier of the occurrence of the member’s marriage or his or her attaining 18 years of age, and who was receiving one-half or more of his or her support from the member at the time the member became eligible for benefits pursuant to this part.
(Added by renumbering Section 25120 by Stats. 2000, Ch. 74, Sec. 67. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25921.

25921. “Employer” means the state or any agency or political subdivision thereof for which creditable service subject to coverage by the plan, as defined in Section 22155.5, is performed.
(Added by Stats. 2001, Ch. 803, Sec. 34. Effective January 1, 2002.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25923.

25923. “Fund” means the Teachers’ Health Benefits Fund.
(Added by Stats. 2000, Ch. 1032, Sec. 3. Effective January 1, 2001.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25925.

25925. “Member” means a current or retired employee of an employer, as defined in Section 25921.
(Amended by Stats. 2001, Ch. 803, Sec. 35. Effective January 1, 2002.)
2023 California Code › Education Code - EDC › TITLE 1 - GENERAL EDUCATION CODE PROVISIONS › DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS › PART 13.5 - HEALTH CARE BENEFITS PROGRAM › CHAPTER 2 - Definitions › Section 25926.

25926. “School year” means the period of time beginning on July 1 of one calendar year and ending on June 30 of the following calendar year.
(Amended by Stats. 2018, Ch. 416, Sec. 25. (SB 1165) Effective January 1, 2019.)