California Statutes
§ 24951. — 24951. (Amended by Stats. 1998, Ch. 965, Sec. 227.)
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. 36. CHAPTER 36. Annuity Contract and Custodial Accounts
If the rate of participation in the annuity contract and custodial account is less than 2 percent of active members in the Defined Benefit Program upon the completion of the initial five years of administration, the board may elect to terminate the offering of the annuity contract and custodial account as described in Section 403(b) of the Internal Revenue Code of 1986. The board shall provide two years’ notice to the annuity contract and custodial account participants of its intention to terminate.
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California § 24951. (24951. (Amended by Stats. 1998, Ch. 965, Sec. 227.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1998, Ch. 965, Sec. 227. Effective January 1, 1999.