§ 22663. — 22663. (Amended by Stats. 2014, Ch. 755, Sec. 18.)

California § 22663.

• 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 this part has the right to purchase additional service credit in accordance with the determination of the court pursuant to Section 22652.
(a)
The nonmember spouse may purchase only the service credit that the court, pursuant to Section 22652, has determined to be the community property interest of the nonmember spouse.
(b)
The nonmember spouse shall inform the system in writing of his or her intent to purchase additional service credit within 180 days after the date the judgment or court order addressing the right of the nonmember spouse to purchase additional service credit is entered.
Except as provided in subdivision (f), the nonmember spouse shall elect to purchase additional service credit on a form provided by the system within 30 days after the system mails an election form and billing.
(c)
If the nonmember spouse elects to purchase additional service credit, he or she shall pay, prior to retirement under this part, all contributions with respect to the additional service at the contribution rate for additional service credit in effect at the time of election and regular interest from July 1 of the year following the year upon which contributions are based.
(1)
(A)
The nonmember spouse shall purchase additional service credit by paying the required contributions and interest in one lump sum, or in not more than 120 monthly installments,
provided that no installment, except the final installment, is less than twenty-five dollars ($25). Regular interest shall be charged on the monthly, unpaid balance if the nonmember spouse pays in installments.
(B)
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.
(2)
The contributions shall be based on the member’s compensation earnable in the most recent school year during which the member was employed, preceding the date of separation established by the court pursuant to Section 22652.
(3)
All payments of contributions
and interest shall be received by the system before the effective date of the retirement of the nonmember spouse.
(d)
The nonmember spouse does not have a right to purchase additional service credit under this part after the effective date of a refund of the accumulated retirement contributions in the separate account of the nonmember spouse.
(e)
The member does not have a right to purchase the community property interest of the nonmember spouse of additional service credit under this part whether or not the nonmember spouse elects to purchase the additional service credit. However, any additional service credit eligible for purchase that is not explicitly awarded to the nonmember spouse by the judgment or court order shall be deemed the exclusive property of the member.
(f)
The measurement of time within which the election to purchase additional service credit described in subdivision (b) shall be made is subject to Section 22337.

Legislative History

Amended by Stats. 2014, Ch. 755, Sec. 18. (SB 1220) Effective January 1, 2015.