The board shall not be required to determine the powers of a trustee or the validity of a trust or of any of the terms of a trust that is elected as a beneficiary, option beneficiary, or other payee under the plan. Such a determination by the board shall not be inferred from the fact that a member or trustee has provided a copy of all or part of the trust instrument. The acknowledged certification pursuant to Section 22450 by the member or trustee that the trustee has the powers declared therein and that the trust meets the requirements described in this part and Part 14 shall be conclusive. Payment of benefits to a trust pursuant to the board’s determination in good faith of the existence, identity, or other facts relating to entitlement of the trust to receive a benefit under this part constitutes a complete discharge and release of the board, system, and plan from liability for the benefit.
(Added by Stats. 2016, Ch. 559, Sec. 11. (AB 1875) Effective January 1, 2017.)
Last modified: October 25, 2018