§ 24807.5. — 24807.5. (Repealed and added by Stats. 1993, Ch. 893, Sec. 2.)

California § 24807.5.

• 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. 34.: CHAPTER 34. Administration of the District Retirement Salary Plan

Text

Any certificated employee of a district having an annuity reserve fund may enter into an amendment of his or her employment contract for the purpose of effecting a reduction in salary. The reduction shall be deposited by the employer, at the employee’s request, in the district’s annuity reserve fund. The deposits shall be used to provide the employee an annuity within the meaning of Section 403(b) of the Internal Revenue Code of 1986 (26 U.S.C.A. Sec. 403(b)).

Legislative History

Repealed and added by Stats. 1993, Ch. 893, Sec. 2. Effective January 1, 1994.