California Code of Regulations › Title 10 - Investment › Chapter 15 - Calsavers Retirement Savings Board › Section 10006 - Individual Participation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An individual who is at least eighteen
			 years of age, and who is not an Eligible Employee may elect to participate in
			 the Program as a Participating Individual outside of an employment relationship
			 with an Eligible Employer. An individual may enroll in the Program through any
			 of the methods established in Section
			 10004(d) by
			 providing the information required in Section
			 10003(a).
(b) Any recurring Contribution by a
			 Participating Individual must be made at least as frequently as weekly, once
			 every two weeks, twice monthly, or once monthly and must be made through
			 Electronic Fund Transfer, and must be at least $10.
(c) Participating Individuals may make
			 non-recurring Contributions.
Non-recurring Contributions must be in an amount of at least
				$10 and must be made through Electronic Fund Transfer or by personal
				check.
(d) Businesses that
			 use the services of Participating Individuals have not elected to participate
			 in the Program merely because they, at the request of Participating
			 Individuals, choose to facilitate remittance to the Administrator for deposit
			 into a Participating Individual's Account all or a portion of the money owed to
			 such Participating Individuals. Exempt Employers that choose to facilitate
			 deposits to a Participating Individual's Account shall take all steps necessary
			 to ensure their payroll deduction IRA program is not an employee benefit plan
			 regulated under Title 1 of the Employee Retirement Income Security Act
			 (ERISA).
1. New section
				filed 11-19-2018 as an emergency; operative 11-19-2018 (Register 2018, No. 47).
				A Certificate of Compliance must be transmitted to OAL by 5-20-2019 or
				emergency language will be repealed by operation of law on the following
				day.
2. New section refiled 5-6-2019 as an emergency; operative
				5-21-2019 (Register 2019, No. 19). A Certificate of Compliance must be
				transmitted to OAL by 8-19-2019 or emergency language will be repealed by
				operation of law on the following day.
3. New section refiled
				8-12-2019 as an emergency; operative 8-20-2019 (Register 2019, No. 33). A
				Certificate of Compliance must be transmitted to OAL by 11-18-2019 or emergency
				language will be repealed by operation of law on the following
				day.
4. Certificate of Compliance as to 8-12-2019 order, including
				amendment of section, transmitted to OAL 9-23-2019 and filed 10-31-2019;
				amendments operative 10-31-2019 pursuant to Government Code section
				11343.4(b)(3)
				(Register 2019, No. 44).
5. Amendment of subsection (a) filed
				8-31-2020 as an emergency; operative 8-31-2020 (Register 2020, No. 36). A
				Certificate of Compliance must be transmitted to OAL by 3-1-2021 or emergency
				language will be repealed by operation of law on the following
				day.
6. Emergency filed 8-31-2020 extended 60 days pursuant to
				Executive Order N-40-20 and an additional 60 days pursuant to Executive Order
				N-71-20 (Register 2020, No. 39). A Certificate of Compliance must be
				transmitted to OAL by 6-29-2021 or emergency language will be repealed by
				operation of law on the following day.
7. Amendment of subsection
				(b), new subsections (c)-(c)(2) and subsection relettering filed 1-25-2021 as
				an emergency; operative 1-25-2021. Pursuant to Health and Safety Code section
				1363.04(f),
				this action is a deemed emergency and exempt from OAL review. Expiration date
				of emergency action extended 60 days (Executive Order N-40-20) plus an
				additional 60 days (Executive Order N-71-20) (Register 2021, No. 5). A
				Certificate of Compliance must be transmitted to OAL by 11-23-2021 or emergency
				language will be repealed by operation of law on the following
				day.
8. Amendment of subsection (a) refiled 6-28-2021 as an
				emergency; operative 6-30-2021. Emergency expiration extended 60 days
				(Executive Order N-40-20) plus an additional 60 days (Executive Order N-71-20)
				(Register 2021, No. 27). A Certificate of Compliance must be transmitted to OAL
				by 1-28-2022 or emergency language will be repealed by operation of law on the
				following day.
9. Amendment of subsection (b), new subsections
				(c)-(c)(2) and subsection relettering refiled 11-17-2021 as an emergency;
				operative 11-24-2021. Pursuant to Health and Safety Code section
				1363.04(f),
				this action is a deemed emergency and exempt from OAL review (Register 2021,
				No. 47). A Certificate of Compliance must be transmitted to OAL by 2-22-2022 or
				emergency language will be repealed by operation of law on the following
				day.
10. Certificate of Compliance as to 11-17-2021 order
				transmitted to OAL 12-2-2021 and filed 1-13-2022 (Register 2022, No.
				2).
11. Amendment of subsection (c) and repealer of subsections
				(c)(1)-(2) filed 12-21-2022 as an emergency; operative 1-1-2023 (Register 2022,
				No. 51). A Certificate of Compliance must be transmitted to OAL by 6-30-2023 or
				emergency language will be repealed by operation of law on the following
				day.
12. Amendment of subsection (c) and repealer of subsections
				(c)(1)-(2) refiled 6-19-2023 as an emergency; operative 6-30-2023 pursuant to
				Government Code section
				11346.1(d)
				(Register 2023, No. 25). A Certificate of Compliance must be transmitted to OAL
				by 9-28-2023 or emergency language will be repealed by operation of law on the
				following day.
13. Certificate of Compliance as to 6-19-2023 order
				transmitted to OAL 6-23-2023 and filed 8-7-2023 (Register 2023, No.
				32).
Note: Authority cited: Sections
				  100010 and
				  100048,
				  Government Code. Reference: Sections
				  100002 and
				  100012,
				  Government Code.