California Code
DIVISION 1 - GENERAL EDUCATION CODE PROVISIONS
PART 14 - STATE TEACHERS RETIREMENT SYSTEM CASH BENEFIT PROGRAM

CHAPTER 1 - General Provisions

Section 26000. - 26000. The Legislature hereby finds and declares that the State...

Section 26000.5. - 26000.5. An employer whose governing board has elected to provide...

Section 26000.6. - 26000.6. (a) An election by any employer to provide the...

Section 26001. - 26001. The design and administration of the plan, including the...

Section 26002. - 26002. The Cash Balance Benefit Program shall be administered by...

Section 26002.5. - 26002.5. Except as excluded in subdivision (d) of Section 26807.5...

Section 26003. - 26003. If any provision of this part or the application...

Section 26004. - 26004. Notwithstanding any other provision of law: (a) The benefits...

CHAPTER 2 - Definitions

Section 26100. - 26100. Unless otherwise specified, the definitions set forth in this...

Section 26101. - 26101. “Actuarial equivalent” means a benefit that has the same...

Section 26102. - 26102. “Actuary” means a person professionally trained in the technical...

Section 26103. - 26103. “Additional earnings credit” means a percentage determined by the...

Section 26104. - 26104. “Administrative costs” means the costs of administering the Cash...

Section 26105. - 26105. “Annuitant Reserve” means the reserve account established by the...

Section 26106. - 26106. “Annuity” means an amount of money payable in monthly...

Section 26106.5. - 26106.5. (a) For purposes of this part, “annuity beneficiary” means...

Section 26107. - 26107. “Basis of employment” means the standard of time over...

Section 26108. - 26108. “Beneficiary” means any person or persons or entity designated...

Section 26109. - 26109. “Board” means the Teachers’ Retirement Board. (Added by Stats....

Section 26112. - 26112. “Cash Balance Benefit Program” means the benefit program set...

Section 26112.5. - 26112.5. (a) “Class of employees” means a number of employees...

Section 26113. - 26113. (a) “Creditable service” means any of the activities described...

Section 26114. - 26114. “Death benefit” means the benefit payable under this part...

Section 26115. - 26115. “Defined Benefit Program” means the Defined Benefit Program of...

Section 26116. - 26116. “Disability benefit” means an amount payable under this part...

Section 26117. - 26117. “Disability date” means the date the benefit becomes payable...

Section 26118. - 26118. “Employee” means a person engaged to perform creditable service....

Section 26119. - 26119. “Employee account” means the nominal account of the participant...

Section 26120. - 26120. “Employee contribution rate” means the percentage of the participant’s...

Section 26121. - 26121. “Employee contribution” means the amount withheld from the participant’s...

Section 26122. - 26122. “Employer” means a school district, community college district, or...

Section 26123. - 26123. “Employer account” means the nominal account of the participant...

Section 26124. - 26124. “Employer contribution rate” means the percentage of salary that...

Section 26125. - 26125. “Employer contribution” means the amount contributed by the employer...

Section 26126. - 26126. “Employed” or “employment” means employed to perform creditable service...

Section 26127. - 26127. “Full time equivalent” means the days or hours of...

Section 26128. - 26128. “Fund” means the Teachers’ Retirement Fund. (Amended by Stats....

Section 26129. - 26129. “Gain and Loss Reserve” means the reserve account established...

Section 26130. - 26130. “Investment earnings” means income received or receivable during the...

Section 26131. - 26131. “Minimum interest rate” means the annual rate determined for...

Section 26132. - 26132. “Participant” means a person who has performed creditable service...

Section 26132.5. - 26132.5. (a) “Participant subject to the California Public Employees’ Pension...

Section 26133. - 26133. “Pay period” means a payroll period specified by the...

Section 26134. - 26134. “Plan” means the State Teachers’ Retirement Plan. (Amended by...

Section 26135. - 26135. “Plan year” means the calendar, policy, or fiscal year...

Section 26135.5. - 26135.5. “Public employer” means a public employer as defined by...

Section 26135.7. - 26135.7. (a) “Retired participant activities” means one or more activities...

Section 26136. - 26136. “Retirement” means termination of employment and completion of all...

Section 26137. - 26137. “Retirement benefit” means an amount payable under this part...

Section 26138. - 26138. “Retirement date” means the date the benefit under this...

Section 26139. - 26139. (a) “Salary” means remuneration paid in cash by an...

Section 26139.5. - 26139.5. (a) “Salary,” for participants subject to the California Public...

Section 26140. - 26140. (a) “Spouse” means the person married to the participant...

Section 26142. - 26142. “System” means the State Teachers’ Retirement System. (Added by...

Section 26142.5. - 26142.5. “System’s headquarters office” means the office building established as...

Section 26143. - 26143. “Termination benefit” means a benefit that is an amount...

Section 26144. - 26144. “Total and permanent disability” means any medically determinable physical...

Section 26144.5. - 26144.5. “Trustee service” means duties performed by a member of...

Section 26145. - 26145. “Unfunded actuarial obligation” means any negative balance in the...

CHAPTER 3 - Plan Administration

Section 26200. - 26200. Employee contributions, employer contributions, investment earnings, and any other...

Section 26201. - 26201. Investment earnings shall be collected by the Treasurer, and...

Section 26202. - 26202. (a) The board shall establish a Gain and Loss...

Section 26203. - 26203. The board may amortize any unfunded actuarial obligation in...

Section 26204. - 26204. The board shall establish an Annuitant Reserve within the...

Section 26205. - 26205. The board may transfer amounts between the Gain and...

Section 26206. - 26206. All administrative costs of the board and system for...

Section 26207.5. - 26207.5. In no event shall the funding of the Cash...

Section 26208. - 26208. The board shall establish and maintain records and accounts...

Section 26209. - 26209. The board may authorize the transfer and disbursement of...

Section 26210. - 26210. The board has exclusive control of the investment of...

Section 26211. - 26211. The board shall acquire the services of an actuary...

Section 26212. - 26212. The board shall maintain all data necessary for the...

Section 26213. - 26213. The board shall adopt actuarial assumptions, rates, factors and...

Section 26214. - 26214. (a) Except as provided in subdivision (b), the system...

Section 26216. - 26216. The board may administer the Cash Balance Benefit Program...

CHAPTER 4 - Employer and Participant Responsibilities

Section 26300. - 26300. (a) Within 10 working days following the later of...

Section 26301. - 26301. (a) Employers shall report contributions paid on behalf of...

Section 26301.5. - 26301.5. Each employer shall deduct from the salary of participants...

Section 26301.7. - 26301.7. (a) All contributions due to the system by an...

Section 26302. - 26302. (a) If more or less than the contributions required...

Section 26303. - 26303. (a) Employers shall transmit to the plan the employee...

Section 26303.5. - 26303.5. A person or entity that reports directly to the...

Section 26303.7. - 26303.7. Penalties and interest due to the system pursuant to...

Section 26304. - 26304. An employer shall provide timely notice to the system...

Section 26305. - 26305. Upon request of the system, an employer shall provide...

Section 26306. - 26306. (a) Upon request by the system, a participant or...

CHAPTER 5 - Eligibility

Section 26400. - 26400. (a) (1) Any person who is not already a...

Section 26401. - 26401. (a) (1) A member of the Defined Benefit Program...

Section 26403. - 26403. (a) A person who performs trustee service for an...

CHAPTER 6 - Contributions

Section 26500. - 26500. Acceptance of employment subject to coverage by the Cash...

Section 26501. - 26501. Except as provided in Section 26504, the participant shall...

Section 26501.5. - 26501.5. A person who elects, pursuant to Section 26403, to...

Section 26502. - 26502. Notwithstanding Section 26301.5, the employer may pick up, for...

Section 26503. - 26503. Except as provided in Sections 26504 and 26507, the...

Section 26503.5. - 26503.5. If a person elects, pursuant to Section 26403, to...

Section 26504. - 26504. The employer may enter into a collective bargaining agreement...

Section 26506. - 26506. (a) Except as provided in subdivision (b), participants shall...

Section 26507. - 26507. (a) The board may adjust the mandatory employer contribution...

CHAPTER 7 - Employee and Employer Accounts

Section 26600. - 26600. All contributions based on salary earned by a participant,...

Section 26601. - 26601. All employee contributions and interest credited under the minimum...

Section 26602. - 26602. All employer contributions on behalf of the participant and...

Section 26603. - 26603. (a) All employee contributions shall be credited to employee...

Section 26604. - 26604. (a) Beginning June 1, 1996, prior to the Cash...

Section 26605. - 26605. In the event that the total amount of investment...

Section 26606. - 26606. Any additional earnings credit declared shall be determined as...

Section 26607. - 26607. (a) The board may declare by means of plan...

CHAPTER 8 - Rights to Benefits

Section 26700. - 26700. A participant has a vested right to a retirement...

Section 26701. - 26701. The right of a participant to a benefit under...

Section 26702. - 26702. (a) For the purpose of payments into or out...

Section 26703. - 26703. The signature of the spouse of a participant shall...

Section 26704. - 26704. If a spouse refuses to sign a beneficiary designation,...

CHAPTER 9 - Retirement Benefit

Section 26800. - 26800. The normal retirement age for the Cash Balance Benefit...

Section 26801. - 26801. Except as provided under Section 26802, a participant’s retirement...

Section 26802. - 26802. Distribution of the retirement benefit under this part shall...

Section 26803. - 26803. (a) All creditable service subject to coverage by the...

Section 26804. - 26804. Application for a retirement benefit under this part shall...

Section 26805. - 26805. The retirement benefit under this part is a benefit...

Section 26806. - 26806. (a) The normal form of retirement benefit under this...

Section 26807. - 26807. (a) Upon application for a retirement benefit under this...

Section 26807.5. - 26807.5. (a) Upon application for a retirement benefit under this...

Section 26807.6. - 26807.6. (a) A participant who retired and elected an annuity...

Section 26807.7. - 26807.7. (a) A participant who retired and elected a beneficiary...

Section 26808. - 26808. (a) The annuity elected under this chapter shall be...

Section 26809. - 26809. Upon election of an annuity under this part, the...

Section 26810. - 26810. (a) A participant who is employed to perform creditable...

Section 26811. - 26811. (a) Except as provided in subdivision (b), the annuity...

Section 26812. - 26812. (a) A participant retired for service under this part...

Section 26813. - 26813. A member retired for service under the Defined Benefit...

CHAPTER 10 - Disability Benefit

Section 26900. - 26900. A participant may apply to receive a disability benefit...

Section 26901. - 26901. Application for a disability benefit under this part shall...

Section 26902. - 26902. (a) A disability benefit under this part shall become...

Section 26903. - 26903. All creditable service subject to coverage by the Cash...

Section 26904. - 26904. The disability benefit is a benefit for total and...

Section 26905. - 26905. The normal form of disability benefit under this part...

Section 26906. - 26906. (a) Upon application for a disability benefit under this...

Section 26906.5. - 26906.5. (a) Upon application for a disability benefit under this...

Section 26906.6. - 26906.6. (a) A participant who is disabled and elected an...

Section 26907. - 26907. The annuity under this chapter shall be determined as...

Section 26908. - 26908. Upon election of an annuity under this part, the...

Section 26910. - 26910. (a) Except as provided in subdivision (b), the beneficiary...

Section 26911. - 26911. If a participant who is receiving a disability annuity...

CHAPTER 11 - Death Benefit

Section 27000. - 27000. The death benefit shall become payable to the beneficiary...

Section 27001. - 27001. Notwithstanding Chapter 3 (commencing with Section 13100) of Part...

Section 27002. - 27002. If the participant died prior to commencement of an...

Section 27003. - 27003. The normal form of death benefit under this part...

Section 27004. - 27004. (a) A beneficiary, other than an entity except a...

Section 27005. - 27005. The annuity elected under this chapter shall be determined...

Section 27006. - 27006. Upon the beneficiary’s election to receive the death benefit...

Section 27007. - 27007. (a) If the participant died while receiving an annuity...

Section 27008. - 27008. Upon the death of a beneficiary who was receiving...

CHAPTER 12 - Beneficiary

Section 27100. - 27100. A participant may at any time designate or change...

Section 27100.5. - 27100.5. A corporation, trust, charitable organization, parochial institution, or public...

Section 27101. - 27101. In the event the participant dies without a valid...

Section 27102. - 27102. Part 5 (commencing with Section 220) of Division 2...

CHAPTER 13 - Termination Benefit

Section 27200. - 27200. Upon termination of all creditable service subject to coverage...

Section 27201. - 27201. (a) All creditable service subject to coverage by the...

Section 27202. - 27202. A participant shall apply for a termination benefit under...

Section 27203. - 27203. A participant may not apply for a termination benefit...

Section 27204. - 27204. (a) The termination benefit under this part shall not...

Section 27205. - 27205. A participant may cancel the application for a termination...

Section 27206. - 27206. No partial distribution shall be made from an employee...

Section 27207. - 27207. Upon distribution of the lump-sum payment to the participant...

CHAPTER 14 - Distribution of Benefits

Section 27300. - 27300. (a) The plan’s obligations under this part to a...

Section 27301. - 27301. (a) The plan’s obligations under this part to a...

Section 27302. - 27302. If a benefit payable under this part cannot be...

Section 27303. - 27303. Any overpayment to a participant or beneficiary under this...

Section 27303.5. - 27303.5. If an employer reports erroneous information, the system shall...

CHAPTER 15 - Community Property

Section 27400. - 27400. (a) This chapter establishes the power of a court...

Section 27401. - 27401. (a) For purposes of this chapter, “nonparticipant spouse” means...

Section 27402. - 27402. (a) Upon the legal separation or dissolution of marriage...

Section 27403. - 27403. The nonparticipant spouse who is awarded separate nominal accounts...

Section 27404. - 27404. The nonparticipant spouse is entitled to no benefits or...

Section 27405. - 27405. Upon the legal separation or dissolution of marriage of...

Section 27406. - 27406. The nonparticipant spouse who is awarded separate nominal accounts...

Section 27407. - 27407. No judgment or court order issued pursuant to this...

Section 27408. - 27408. (a) Sections 26107, 26700, 26802, 26806, 27000, 27002, paragraphs...

Section 27409. - 27409. Upon being awarded separate nominal accounts or an interest...

Section 27410. - 27410. (a) The nonparticipant spouse who is awarded separate nominal...

Section 27411. - 27411. The nonparticipant spouse who is awarded a separate nominal...

Section 27412. - 27412. The system shall include the contribution and earnings credits...

Section 27413. - 27413. It is the intent of the Legislature to abolish...

CHAPTER 16 - Military Services

Section 28000. - 28000. (a) The Legislature hereby finds and declares its intent...

Section 28001. - 28001. (a) The participant who returns to employment with the...

Section 28002. - 28002. (a) Except as provided in subdivision (b), an employer...

Section 28003. - 28003. For purposes of calculating the employer’s liability under Section...

Section 28004. - 28004. A participant who is absent from a position of...

Section 28005. - 28005. A participant’s entitlement to the right to contribute toward...

Section 28006. - 28006. No provision of this chapter shall apply to the...

CHAPTER 17 - Discontinuation of Plan

Section 28100. - 28100. (a) The employer may discontinue providing the Cash Balance...

Section 28101. - 28101. (a) Upon discontinuation of the Cash Balance Benefit Program...