California § 26600. 26600. (Added by Stats. 1995, Ch. 592, Sec. 16.)

California Statutes

§ 26600. — 26600. (Added by Stats. 1995, Ch. 592, Sec. 16.)

California·Code EDC Education Code - EDC·Div. 1.·Title 1. DIVISION 1. GENERAL EDUCATION CODE PROVISIONS·Part 14. PART 14. STATE TEACHERS’ RETIREMENT SYSTEM CASH BENEFIT PROGRAM·Ch. 7. CHAPTER 7. Employee and Employer Accounts

All contributions based on salary earned by a participant, together with amounts credited under the minimum interest rate and additional earnings credit amounts, shall be treated as credits to individual accounts in the name of the participant.  These accounts shall be nominal accounts used to determine the amount of retirement benefit, disability benefit, death benefit, or termination benefit of the participant or beneficiary.  The participant shall have no actual individual account and shall have no claim to any particular assets of the plan or the fund.

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All contributions based on salary earned by a participant, together with amounts credited under the minimum interest rate and additional earnings credit amounts, shall be treated as credits to individual accounts in the name of the participant. These accounts shall be nominal accounts used to determine the amount of retirement benefit, disability benefit, death benefit, or termination benefit of the participant or beneficiary. The participant shall have no actual individual account and shall have no claim to any particular assets of the plan or the fund.

California § 26600. (26600. (Added by Stats. 1995, Ch. 592, Sec. 16.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.

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