§ 22662. — 22662. (Amended by Stats. 2014, Ch. 755, Sec. 17.)

California § 22662.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 1.
• Title 1.: DIVISION 1. GENERAL EDUCATION CODE PROVISIONS
• Part 13.: PART 13. STATE TEACHERS' RETIREMENT SYSTEM
• Ch. 12.: CHAPTER 12. Community Property

Text

The nonmember spouse who is awarded a separate account under the Defined Benefit Program may redeposit accumulated retirement contributions previously refunded to the member in accordance with the determination of the court pursuant to Section 22652.
(a)
The nonmember spouse may redeposit under the Defined Benefit Program only those accumulated retirement contributions that were previously refunded to the member and in which the court has determined the nonmember spouse has a community property interest.
(b)
The nonmember spouse shall inform the system in writing of his or her intent to redeposit within 180 days after the judgment or
court order that specifies the redeposit rights of the nonmember spouse is entered. Except as provided in subdivision (g), the nonmember spouse’s election to redeposit shall be made on a form provided by the system within 30 days after the system mails an election form and the billing.
(c)
If the nonmember spouse elects to redeposit under the Defined Benefit Program, he or she shall repay all or a portion of the member’s refunded accumulated retirement contributions that were awarded to the nonmember spouse and shall pay regular interest from the date of the refund to the date payment of the redeposit is completed.
(d)
All payments shall be received by the system before the effective date of the nonmember spouse’s retirement under this part. If any payment due because of the
election is not received at the system’s headquarters office within 120 days of its due date, the election shall be canceled and any payments made under the election shall be returned to the nonmember spouse.
(e)
The right of the nonmember spouse to redeposit shall be subject to Section 23203.
(f)
The member shall not have a right to redeposit the share of the nonmember spouse in the previously refunded accumulated retirement contributions under this part whether or not the nonmember spouse elects to redeposit. However, any accumulated retirement contributions previously refunded under this part and not explicitly awarded to the nonmember spouse under this part by the judgment or court order shall be deemed the exclusive property of the member.
(g)
The measurement of time within which the election to redeposit described in subdivision (b) shall be made is subject to Section 22337.

Legislative History

Amended by Stats. 2014, Ch. 755, Sec. 17. (SB 1220) Effective January 1, 2015.