reglab/statecodes huggingface dataset:
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 1.5 - Plan Qualification Requirements for the Public Employees' Retirement Fund › Section 553.1 - Compliance with Section 401(a) of the Internal Revenue Code

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Public Employees' Retirement System is intended to
						constitute a governmental plan within the meaning of Section
						414(d) of the
						Internal Revenue Code, and as such, the system and all benefits payable
						thereunder are intended to satisfy all requirements of Section
						401(a) of the
						Internal Revenue Code that apply to such a governmental plan.
1. New
						section filed 2-23-2015; operative 4-1-2015 (Register 2015, No.
						9).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: California Constitution, Article XVI, Section
						  17; Sections
						  20001,
						  20002,
						  20170 and
						  20171,
						  Government Code; and Sections
						  401(a) and
						  414(d), Title 26,
						  United States Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 1.5 - Plan Qualification Requirements for the Public Employees' Retirement Fund › Section 553.2 - Exclusive Benefit Requirement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Pursuant to Internal Revenue Code Section
						401(a)(2), the
						corpus or income of the Public Employees' Retirement System trust may not be
						diverted to or used for purposes other than the exclusive benefit of the
						members or their beneficiaries, nor shall there be a reversion of trust funds
						except as permitted by IRS Revenue Ruling 91-4, 1991-1 C.B.
						57.
1. New
						section filed 2-23-2015; operative 4-1-2015 (Register 2015, No.
						9).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: California Constitution, Article XVI, Section
						  17; Sections
						  20151,
						  20170,
						  20171 and
						  20176,
						  Government Code; and Section
						  401(a)(1)-(2),
						  Title 26, United States Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 1.5 - Plan Qualification Requirements for the Public Employees' Retirement Fund › Section 553.3 - Vesting of Benefits upon Certain Events

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A member's right to his or her accrued benefits shall
						become nonforfeitable on (a) attainment of the normal retirement age required
						to entitle such a member to receive a service retirement allowance or (b)
						termination of the plan, to the extent funded, subject to Sections
						7522.70,
						7522.72,
						7522.74
						and
						20341 of
						the Government Code, as applicable.
1. New
						section filed 2-23-2015; operative 4-1-2015 (Register 2015, No.
						9).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Sections
						  20170,
						  20171 and
						  21350,
						  Government Code; Section
						  411(d)(3), Title
						  26, United States Code; and 26 C.F.R. part
						  1.411(d)-2.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 1.5 - Plan Qualification Requirements for the Public Employees' Retirement Fund › Section 553.4 - Minimum Required Distributions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Notwithstanding any other provision of the plan to the
						contrary, in complying with the requirements of Section
						20731 of
						the Government Code, distributions from the plan shall be made in accordance
						with a reasonable and good faith interpretation of Section
						401(a)(9) of the
						Internal Revenue Code, including the incidental death benefit requirement in
						Section 401(a)(9)(G) and
						the Treasury Regulations thereunder, pursuant to 26 C.F.R part 1.401(a)(9)-1,
						Q&A-2(d).
1. New
						section filed 2-23-2015; operative 4-1-2015 (Register 2015, No.
						9).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Sections
						  20170,
						  20171 and
						  20731,
						  Government Code; Section
						  401(a)(9), Title
						  26, United States Code; and 26 C.F.R. part 1.401(a)(9)-1,
						  Q&A-2(d).
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 1.5 - Plan Qualification Requirements for the Public Employees' Retirement Fund › Section 553.5 - Contribution Limits

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
To the extent applicable, member contributions will be
						limited in accordance with Section
						415(c) of the
						Internal Revenue Code. This provision applies for all years to which Section
						415(c) applies to
						any member contributions under the system.
1. New
						section filed 2-23-2015; operative 4-1-2015 (Register 2015, No.
						9).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Sections
						  20170,
						  20171 and
						  21750,
						  Government Code; and Section
						  415, Title 26, United States
						  Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 1.5 - Plan Qualification Requirements for the Public Employees' Retirement Fund › Section 553.6 - Actuarial Assumptions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The amount of benefits payable by the Public Employees'
						Retirement System shall be determined on the basis of actuarial assumptions
						adopted by the board in accordance with Section
						20132 of
						the Government Code, as well as Article XVI, Section
						17(e) of the
						California Constitution. Such benefits will not be subject to employer
						discretion.
1. New
						section filed 2-23-2015; operative 4-1-2015 (Register 2015, No.
						9).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: California Constitution, Article XVI, Section
						  17; Sections
						  20132,
						  20170 and
						  20171,
						  Government Code; and Section
						  401(a)(25), Title
						  26, United States Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554 - Election of Board Members

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Board member elections shall be conducted by the Election
						Coordinator designated by the Chief Executive Officer in accordance with
						procedures adopted by the Board.
All CalPERS staff involved in conducting Board elections
						shall be required to sign a statement that they have fully complied with the
						CalPERS Board election procedures and have faithfully performed their assigned
						duties in the election. These statements shall be on file with the Election
						Coordinator and shall be completed each time an election is held. No CalPERS
						staff shall use his/her official position to favor one candidate over another.
						Nothing in this section shall prohibit CalPERS staff who are eligible to vote
						in an election from exercising the same personal rights as other eligible
						voters.
1. New
						section filed 7-2-82; effective thirtieth day thereafter (Register 82, No. 27).
						For history of Article 2, see Register 64, No. 17.
2. Amendment
						filed 7-9-84; effective thirtieth day thereafter (Register 84, No.
						28).
3. Amendment of NOTE filed 8-24-98; operative 9-23-98 (Register
						98, No. 35).
4. Amendment of second paragraph filed 11-30-2000 as an
						emergency; operative 11-30-2000 (Register 2000, No. 48). A Certificate of
						Compliance must be transmitted to OAL by 3-30-2001 or emergency language will
						be repealed by operation of law on the following day.
5. Change
						without regulatory effect correcting 11-30-2000 emergency action filed
						12-18-2000 pursuant to section
						100, title 1, California Code of
						Regulations (Register 2000, No. 51).
6. Pursuant to the order of the
						Superior Court of California, Court of Sacramento, dated April 20, 2001, in
						California State Employees Association, Local 1000, SEIU, AFL-CIO, CLC v.
						Public Employees Retirement System, et al., No. 00CS01662, the emergency
						amendment filed 11-30-2000 has been invalidated and is unenforceable until
						adopted in full compliance with the Administrative Procedure Act. Reinstatement
						of section as it existed prior to 11-30-2000 emergency amendment (Register
						2001, No. 22).
7. Amendment filed 8-2-2001; operative 9-1-2001
						(Register 2001, No. 31).
8. Amendment filed 11-10-2016; operative
						1-1-2017 (Register 2016, No. 46).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Section
						  20096,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554.1 - Agency Responsibilities in Active Member Elections

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each public agency and each State department shall ensure
						their worksites are in compliance with the Campaign Guidelines set forth in
						section 554.2. Candidates are responsible
						for bringing complaints of worksite election violations to the attention of the
						employer or employer representative responsible for the control of the worksite
						at which the alleged violation of the Campaign Guidelines occurred. Employers
						shall apply the Campaign Guidelines impartially, and shall attempt when
						possible to harmonize the requirements set forth in section
						554.2 with their own policies and
						procedures. An employer's operational needs are to be given substantial
						deference. An employer or employer representative's decision on how, if at all,
						to respond or remedy an alleged campaign violation shall be considered final,
						and will not be reviewed by CalPERS except as part of the election protest
						procedures set forth in section
						554.11.
1. New
						section filed 7-2-82; effective thirtieth day thereafter (Register 82, No.
						27).
2. Amendment filed 7-9-84; effective thirtieth day thereafter
						(Register 84, No. 28).
3. New subsection (a), repealer of former
						subsection (b) and amendment of newly designated subsection (b), and amendment
						of subsections (d) and (f) filed 8-9-94; operative 9-8-94 (Register 94, No.
						32).
4. Amendment of NOTE filed 8-24-98; operative 9-23-98 (Register
						98, No. 35).
5. Amendment filed 11-10-2016; operative 1-1-2017
						(Register 2016, No. 46).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Section
						  20096,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554.2 - Campaign Guidelines

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Candidates shall adhere to the following campaign
						guidelines:
(a) Candidates may not use
					 any state or local agency buildings or facilities for campaign purposes as set
					 forth in Government Code sections
					 8314,
					 82015, and
					 82025.
(b) Candidates may campaign in public areas
					 of CalPERS owned properties in a manner that does not interfere with business
					 activities.
(c) Campaign literature
					 may be posted subject to conditions or restrictions established by employer
					 policies or applicable collective bargaining agreements.
(d) Candidates may not use CalPERS logo,
					 website, or other trademarks in campaign materials.
(e) Candidates may distribute campaign
					 materials at a CalPERS sponsored candidate forum at locations designated by
					 CalPERS.
(f) Campaign signs may not
					 be posted on any CalPERS property.
(g) CalPERS staff, unless running as a
					 candidate, may not be photographed for use in campaign materials.
(h) Candidates shall not use public resources
					 for campaign purposes, including, but not limited to, the use of government
					 telephones, computers, mailing addresses, web pages, land, buildings, or other
					 resources.
(i) Candidates are
					 prohibited from claiming reimbursement from an employer or CalPERS for trips to
					 promote their candidacy.
1. New
						section filed 7-2-82; effective thirtieth day thereafter (Register 82, No.
						27).
2. Amendment of NOTE filed 8-24-98; operative 9-23-98 (Register
						98, No. 35).
3. Amendment of section and NOTE filed 6-26-2008;
						operative 7-26-2008 (Register 2008, No. 26).
4. Renumbering of
						former section
						554.2 to section
						554.3 and new section
						554.2 filed 11-10-2016; operative
						1-1-2017 (Register 2016, No. 46).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Section
						  20096,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554.3 - Notice of Election

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 Before each election for a Board member identified in Government Code section
					 20090,
					 subdivision (g) or a special election to fill a vacancy pursuant to Government
					 Code section
					 20095, a
					 Notice of Election shall be presented to the Board as an agenda item at a
					 regularly noticed public meeting of the Board.
(b) The Notice of Election shall contain:
(1) A statement of whether, at the time of
					 the adoption of the Notice of Election, the incumbent intends to be a candidate
					 for reelection, pursuant to Government Code section
					 20096.3;
(2) The election schedule, the submission
					 date for the Nomination Petition, Nomination Acceptance/Ballot Designation
					 forms pursuant to this section and section
					 554.5 of this article;
(3) Eligibility criteria for candidates and
					 voters pursuant to Government Code section
					 20090,
					 subdivision (g);
(4) Candidate
					 nomination and election procedures as provided in section
					 554.5 of this article;
(5) Information required by the Nomination
					 Petition as provided in section
					 554.5, subdivisions (b) and (c), of
					 this article;
(6) The minimum
					 number of valid original signatures required for nomination as a candidate
					 pursuant to section
					 554.5, subdivision (d) of this
					 article; and
(7) Such other
					 information as determined by the Board at the noticed public
					 meeting.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554.4 - Ballot Designations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 Each candidate for an elective Board member position may choose a Ballot
					 Designation at the time he or she certifies acceptance of nomination as a
					 candidate. The Ballot Designation will be printed below the candidate's name,
					 on the ballots that are mailed to each eligible voter and will appear after the
					 candidate's name on the online and telephone ballots. The Ballot Designation
					 must be accurate and not misleading and conform to the following guidelines:
(1) If the candidate already holds the Board
					 member position to which he or she is seeking election, then the candidate may
					 use the single word "Incumbent" and this is the only time it may be used as a
					 designation.
(2) The candidate may
					 designate the principal profession or occupation in which he or she is engaged,
					 at the time he or she certifies acceptance of nomination. This designation may
					 be general or specific, but it shall not exceed three words in length. If the
					 candidate is retired from the principal profession or occupation, it may still
					 be designated if preceded by the word "Retired."
(3) The determination of whether or not a
					 Ballot Designation conforms to these guidelines shall be made in the sole
					 discretion of the Election Coordinator. The Election Coordinator may request
					 the candidate to verify the truthfulness of the Ballot Designation. If a Ballot
					 Designation does not conform, in whole or in part, it shall be reformed by the
					 Election Coordinator with prior notice to the candidate, before it is printed
					 on the ballots.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554.8 - Ballot Counting and Runoff Election

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The following are declared to be invalid
					 ballots and shall not be counted in the election:
(1) Votes cast for individuals not listed as
					 candidates on the official ballot.
(2) The return envelope not signed by the
					 eligible voter, in accordance with the CalPERS instructions.
(3) A duplicate ballot (paper ballot, online,
					 telephone) received from the same voter. First ballot received is the only
					 valid ballot.
(4) Votes cast in
					 excess of that allowed on the ballot.
(5) Ballots not received within the time
					 period prescribed by the Notice of Election.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 554.9 - Notice of Election Results

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Within three working days after the votes
					 are tabulated for the election and runoff election, if any, the Election
					 Coordinator shall transmit the unofficial results to each candidate.
(b) Following certification by the Secretary
					 of State, the Election Coordinator shall notify the candidates, Board members,
					 staff and other interested parties of the certified results. The certified
					 results shall also be publicized to agencies and members in a manner prescribed
					 by the Board. Notification to the newly elected Board member shall include an
					 Oath of Office form. This form is to be signed by the member-elect in the
					 presence of a notary public and returned to CalPERS. The Election Coordinator
					 shall file the Oath with the Secretary of State.
(c) Upon the Secretary of State certification
					 and proper execution of the Oath of Office form, the Board member elected
					 through this process shall take his or her office on the day provided for by
					 statute, or if not specified by statute, the day specified in the published
					 election schedule or immediately, if elected to fill a vacancy.
1. New
						section filed 8-9-94; operative 9-8-94 (Register 94, No. 32).
2.
						Amendment of NOTE filed 8-24-98; operative 9-23-98 (Register 98, No.
						35).
3. Amendment filed 11-30-2000 as an emergency; operative
						11-30-2000 (Register 2000, No. 48). A Certificate of Compliance must be
						transmitted to OAL by 3-30-2001 or emergency language will be repealed by
						operation of law on the following day.
4. Change without regulatory
						effect correcting subsections (b) and (c) of 11-30-2000 emergency action filed
						12-18-2000 pursuant to section
						100, title 1, California Code of
						Regulations (Register 2000, No. 51).
5. Pursuant to the order of the
						Superior Court of California, Court of Sacramento, dated April 20, 2001, in
						California State Employees Association, Local 1000, SEIU, AFL-CIO, CLC v.
						Public Employees Retirement System, et al., No. 00CS01662, the emergency
						amendment filed 11-30-2000 has been invalidated and is unenforceable until
						adopted in full compliance with the Administrative Procedure Act. Reinstatement
						of section as it existed prior to 11-30-2000 emergency amendment (Register
						2001, No. 22).
6. Amendment filed 8-2-2001; operative 9-1-2001
						(Register 2001, No. 31).
7. Renumbering of former section
						554.9 to section
						554.11 and renumbering and
						amendment of former section
						554.7 to section
						554.9 filed 11-10-2016; operative
						1-1-2017 (Register 2016, No. 46).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Section
						  20096,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 555 - Action of Executive Officer

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Executive Officer is hereby authorized to act: on any
						application for refund of contributions, crediting of service, correction of
						records, retirement for disability or service, and death benefits and
						allowances; and to fix and authorize the payment of any refund, allowance or
						benefit to which such applicant may be found to be entitled; to cause medical
						examination of retired persons; and to reinstate such persons from retirement
						upon his determination that disability does not exist. The Executive Officer
						may refer the question of an applicant's entitlement to any refund, allowance
						or benefit or of his reinstatement from retirement to a hearing officer for
						hearing.
The Executive Officer is hereby authorized and empowered
						to delegate to his subordinates authority to take any such action on his
						behalf.
1. New
						Article 2 ( §§
												555 through
						555.4) filed 8-10-64; effective
						thirtieth day thereafter (Register 64, No. 17).
2. Amendment filed
						2-26-75; effective thirtieth day thereafter (Register 75, No.
						9).
Note: Authority cited for Article 2: Section
						  20120,
						  Government Code. Reference: Sections
						  20107 and
						  20133,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 555.1 - Right of Appeal

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any applicant dissatisfied with the action of the
						Executive Officer on his application, other than his referral of the matter for
						hearing, may appeal such action to the Board by filing a written notice of such
						appeal at the offices of the Board within thirty days of the date of the
						mailing to him by the Executive Officer, at his most recent address of record,
						of notice of the action and right of appeal. An appeal shall contain a
						statement of the facts and the law forming the basis for appeal. Upon a
						satisfactory showing of good cause, the Executive Officer may grant additional
						time not to exceed 30 days, within which to file such appeal.
1.
						Amendment filed 4-28-76; effective thirtieth day thereafter (Register 76, No.
						18).
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 555.2 - Statement of Issues

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any applicant filing an appeal shall be entitled to a
						hearing, and upon the filing of an appeal in accordance with these rules, or
						upon the Executive Officer's referral of any question for hearing, the
						Executive Officer shall execute a statement of issues. Such action of the
						Executive Officer shall not preclude the Board from recalling the proceedings
						for its review or hearing.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 555.3 - Accusation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any member whose retirement for disability has been
						requested by his employer shall be entitled to a hearing. The Executive
						Officer, upon determination that a member shall be retired for disability on
						such application, shall file an accusation and serve a copy thereof on the
						member and his employer.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 555.4 - Hearings

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
All hearings shall be conducted in accordance with the
						provisions of Chapter 5, Part 1, Division 3, Title 2 of the Government Code.
						Each case shall be heard by the hearing officer alone. All proposed decisions
						of hearing officers shall be referred to the Board. The Executive Officer is
						hereby authorized and empowered to take, in the name and on behalf of the
						Board, any action which the Board is authorized or directed by law to take with
						respect to procedural and jurisdictional matters in connection with any case in
						which a statement of issues or accusation has been filed.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 555.5 - Accrual of Interest on Certain Delayed Payments

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Board Finding and Declaration. The board
					 finds and declares that members, beneficiaries and those persons defined by
					 Government Code section
					 21291
					 (together, "participants") should receive appropriate interest when any payment
					 owed to a participant from a defined benefit plan has been delayed beyond a
					 reasonable administrative processing time.
(b) Applicability. This regulation applies to
					 all payments owed to participants from a defined benefit plan established under
					 the Public Employees' Retirement Law, the Judges' Retirement Law, the Judges'
					 Retirement Law II or the Legislators' Retirement Law, except for those payments
					 that are expressly excluded hereafter. This regulation does not apply to:
(1) Any payment owed to any person or entity
					 who is not a participant.
(2) Any
					 payment owed to any person or entity from any defined contribution plan, money
					 purchase pension plan or any tax-preferred retirement savings program (e.g.,
					 Government Code sections
					 21670,
					 22960 and
					 22970).
(3) Any payment owed to any person or entity
					 from any fund created under the Public Employees' Medical and Hospital Care
					 Act, or any similar fund established for the purposes of administering health
					 benefits.
(4) Any payment owed a
					 participant for which the terms and conditions of interest accrual are governed
					 by applicable provisions of the Public Employees' Retirement Law, the Judges'
					 Retirement Law, the Judges' Retirement Law II, or the Legislators' Retirement
					 Law (
e.g.
, Government Code sections
					 9353.3,
					 21499,
					 20178,
					 20734 and
					 75520).
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 2 - Administration › Section 556 - Service Fees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Reasonable requests for information and service with
						respect to a claim for benefits shall be satisfied without charge, except that
						there shall be a standard charge for copywork. With respect to matters other
						than a claim for benefits, requests for information and service shall be
						satisfied only upon agreement to pay to the System a fee representing cost to
						the System for providing such information and service.
1. New
						section filed 12-6-77; effective thirtieth day thereafter (Register 77, No.
						50).
Note: Authority cited: Sections
						  20120-
						  20124,
						  Government Code. Reference: Sections
						  20120-
						  20124,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561 - Scope and Authority

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
These regulations interpret and implement the Dave Elder
						Public Employees' Retirement System Member Home Loan Program authorized by
						Section
						20200 of
						the Government Code. The regulations establish criteria and procedures for
						eligibility determination, loan origination, terms, servicing and
						termination.
1. New
						Article 3.5 (Sections
						561-561.14) filed 5-18-81;
						effective thirtieth day thereafter (Register 81, No. 21).
2.
						Amendment of section and NOTE filed 11-18-2004; operative 12-18-2004 (Register
						2004, No. 47).
3. Amendment filed 12-21-2010; operative 1-20-2011
						(Register 2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.1 - Program Criteria

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Loans issued pursuant to these regulations and loan
						modifications to loans fully owned by the System shall provide the greatest
						benefit to members and annuitants consistent with the Board's role as fiduciary
						for all members and annuitants, the sound investment of the retirement fund,
						and the financial integrity of the program.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
2. Amendment filed 12-21-2010; operative 1-20-2011 (Register
						2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.2 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Annuitant" means a person who receives an allowance from
						the System.
"Board" means the Board of Administration of the System
						as set forth in Section
						20021 of
						the Government Code.
"Correspondent" means a lending institution which meets
						the System's minimum standards for appointment for mortgage loan
						correspondents, which may be changed from time to time, and such lending
						institution has entered into a correspondent's agreement with the System which
						is still valid at the time of origination of the loan.
"Home" means a single-family dwelling, two-family
						dwelling, three-family dwelling, four-family dwelling, single-family
						cooperative apartment, and single-family condominium within the state which the
						borrower intends to make his or her permanent and principal residence. "Home"
						does not include duplexes or other multi-unit equity interests or living units
						forming a part of any commercial activity.
"Loan" means a loan secured by a first note and deed of
						trust on a home to a borrower pursuant to the provisions of these
						regulations.
"Member" means a person within the provisions of section
						20200(b)
						of the Government Code.
"Officers" means members of the Board of Administration
						of the California Public Employees' Retirement System, and its
						designees.
"Principal residence" means the home that the borrower
						intends to occupy as permanent and principal residence for the term of the
						loan. It does not include a purchase for speculative, temporary, interim, or
						second home purposes.
"System" means the Public Employees' Retirement System,
						as set forth in section
						20058 of
						the Government Code.
1.
						Amendment adding new definition of "Officers" and amendment of NOTE filed
						6-20-2002; operative 7-20-2002 (Register 2002, No. 25).
2. Amendment
						of definitions of "Correspondent," "Currently employed member" and "Home" filed
						11-18-2004; operative 12-18-2004 (Register 2004, No. 47).
3.
						Amendment filed 12-21-2010; operative 1-20-2011 (Register 2010, No.
						52).
Note: Authority cited: Sections
						  20120,
						  20121,
						  20200 and
						  20201,
						  Government Code. Reference: Sections
						  20002,
						  20021,
						  20200 and
						  20201,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.3 - Eligibility for Loans

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
At the time of origination, loans shall be available only
						to qualified members and annuitants for the purchase or refinancing of homes in
						accordance with the provisions of these regulations.
A member or annuitant shall not be eligible for a second
						loan under this program while a loan which he or she originated remains
						outstanding.
Effective January 1, 2002, "officers" as defined herein
						(Sec. 561.2) shall not be eligible for a
						home loan under the Member Home Loan Program.
1.
						Amendment filed 10-29-92; operative 11-30-92 (Register 92, No.
						44).
2. Amendment adding third paragraph and amendment of NOTE filed
						6-20-2002; operative 7-20-2002 (Register 2002, No. 25).
3. Amendment
						filed 12-21-2010; operative 1-20-2011 (Register 2010, No.
						52).
Note: Authority cited: Sections
						  20120,
						  20121,
						  20200 and
						  20201,
						  Government Code. Reference: Sections
						  20002,
						  20021,
						  20200 and
						  20201,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.4 - Loan Standards

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
To the extent that they are not in conflict with the
						provisions of these regulations, loan standards shall be as defined in the
						Board's "Minimum Standards of Acceptability for Conventional Single-Family Real
						Estate Mortgage Loans and FHA-VA Loans" as they exist on the effective date of
						these regulations, and as they may be formally changed from time to
						time.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.5 - Rates

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Loans shall carry interest rates which shall be set
						consistent with market rates.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
2. Amendment filed 12-21-2010; operative 1-20-2011 (Register
						2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.6 - Proof of Occupancy

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Borrowers shall certify in their loan application that
						they intend to occupy the home as their principal residence. Borrowers shall
						notify the correspondent servicing the loan immediately when they cease to
						occupy the home as their principal residence.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.7 - Failure to Comply with Certification and Notice Requirement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Failure to comply with the provisions of Section
						561.6 within ten days may cause the
						outstanding balance of the loan to become immediately due and
						payable.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.8 - Amount of Loan and Mortgage Insurance

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
At the time the loan is originated, the amount of the
						loan shall provide a loan to value ratio of a maximum of 100 percent for the
						first loan for a single-family dwelling, single-family cooperative apartment,
						or single-family condominium; 95 percent for the first loan on a two-family
						dwelling; and 90 percent for the first loan on a three-family dwelling or
						four-family dwelling. The portion of any loan exceeding 80 percent of value
						shall be insured by an admitted mortgage guaranty insurer conforming to the
						provisions of Chapter 2A (commencing with Section
						12640.01) of Part 6 of Division 2
						of the Insurance Code in an amount so that the unguaranteed portion of the loan
						does not exceed 75 percent of the market value of the property together with
						improvements thereon.
1.
						Amendment of section and NOTE filed 11-18-2004; operative 12-18-2004 (Register
						2004, No. 47).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.9 - Term of Loan

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The maximum term for any loan shall be 360
						months.
1.
						Editorial correction of Reference cite (Register 95, No. 5).
2.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.10 - Originating and Servicing of Loans

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Subject to the Housing Financial Discrimination Act of
						1977 and other applicable law, correspondents, when approved by the System,
						shall originate and service loans pursuant to the correspondent's agreement
						with the System.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
2. Repealer of section
						561.10 and renumbering of former
						section 561.11 to new section
						561.10, including amendment of
						section heading and section, filed 12-21-2010; operative 1-20-2011 (Register
						2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.11 - Commitments

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Board shall not be obligated to purchase a loan from
						an originating correspondent unless all of the requirements for such purchase
						have been met and the Board has executed a commitment to purchase such
						loan.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
2. Renumbering of former section
						561.11 to new section
						561.10 and renumbering of former
						section 561.12 to new section
						561.11 filed 12-21-2010; operative
						1-20-2011 (Register 2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.12 - Purchase Price

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
With respect to all loans for which the Board has
						executed a commitment, the purchase price shall not exceed that amount set
						forth in the System's commitment.
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
2. Renumbering of former section
						561.12 to new section
						561.11 and renumbering of former
						section 561.13 to new section
						561.12 filed 12-21-2010; operative
						1-20-2011 (Register 2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.13 - Purchase Price. [Renumbered]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Amendment of NOTE filed 11-18-2004; operative 12-18-2004 (Register 2004, No.
						47).
2. Renumbering of former section
						561.13 to new section
						561.12 filed 12-21-2010; operative
						1-20-2011 (Register 2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Section
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 3.5 - Member Home Loan Program › Section 561.14 - Administration of the Program. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Amendment of section and NOTE filed 11-18-2004; operative 12-18-2004 (Register
						2004, No. 47).
2. Repealer filed 12-21-2010; operative 1-20-2011
						(Register 2010, No. 52).
Note: Authority cited: Sections
						  20120 and
						  20200,
						  Government Code. Reference: Sections
						  20099 and
						  20200,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 4 - Contracts › Section 565 - Payment of Contributions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Member and employer contributions shall be received in
						the System's Sacramento office on or before 15 calendar days following the last
						day of the pay period to which they refer.
1. New
						section filed 4-30-76; designated effective 7-1-76 (Register 76, No.
						18).
2. Amendment filed 8-7-86; effective thirtieth day thereafter
						(Register 86, No. 32).
3. Change without regulatory effect amending
						NOTE filed 9-22-2011 pursuant to section
						100, title 1, California Code of
						Regulations (Register 2011, No. 38).
Note: Authority cited: Sections
						  20120-
						  20124,
						  Government Code. Reference: Sections
						  20532,
						  20536,
						  20537,
						  20572 and
						  20615,
						  Government Code.