California Education Code CHAPTER 39 - School Employer Retirement Investment Product Vendor Registration Process and Information Bank
- Section 25100.
(a) The board shall establish a vendor registration process through which information about tax-deferred retirement investment products as described in Section 403(b) of the Internal Revenue...
- Section 25101.
A prospective vendor of 403(b) products that offers those products, or the products of other 403(b) vendors, to employers and their eligible employees, shall register...
- Section 25102.
Registration shall be offered to vendors once annually, and renewal of registration shall be required at least once every five years thereafter for vendors that...
- Section 25103.
(a) The board may remove a vendor from the registry if the vendor submits materially inaccurate information to the board, does not remit assessed fees within...
- Section 25104.
(a) The board shall maintain an impartial investment information bank, via an Internet Web site, containing the information required by Section 25101 about the retirement investment...
- Section 25105.
The board shall include notice of the existence of, and the Internet Web site address for, the impartial investment information bank in each newsletter sent...
- Section 25106.
The board shall design the information bank Internet Web site and include retirement investment product plan information and education materials taken from and referenced to...
- Section 25107.
A vendor may not charge a fee associated with a registered 403(b) product that is not disclosed, pursuant to Section 25101.(Amended by Stats. 2004, Ch....
- Section 25108.
(a) The actual cost of establishing the vendor registration system and the investment information bank shall be borne equally by registered vendors, based on the total...
- Section 25109.
(a) The board and the system, and its officers and employees, are not responsible for, and may not be held liable for the adequacy of the...
- Section 25110.
The board shall complete the initial registration process on or before July 1, 2004.(Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)
- Section 25111.
Each employer, in consultation with the exclusive bargaining agent of its employees, if any, may develop a process to ensure that employees are aware of,...
- Section 25112.
Personnel, including elected school officials, acting on behalf of an employer, may not receive consideration from a vendor in exchange for the promotion of a...
- Section 25113.
An employer may not forward annuity or custodial account consideration to the vendor of any unregistered 403(b) product, except insofar as an employee continues making...
- Section 25114.
Except as provided in this section, an employee shall select from registered 403(b) products.(a) An employee of a local school district, community college district, or county...
- Section 25115.
For purposes of restricting the use of 403(b) investment products provided to eligible employees of employers by those vendors and investment products registered with the...
Last modified: October 22, 2018