California Government Code Section 100034

100034. (a) Employers shall not have any liability for an employee s decision to participate in, or opt out of, the California Secure Choice Retirement Savings Program, or for the investment decisions of employees whose assets are deposited in the program.

(b) Employers shall not be a fiduciary, or considered to be a fiduciary, over the California Secure Choice Retirement Savings Trust or the program. An employer shall not bear responsibility for the administration, investment, or investment performance of the program. An employer shall not be liable with regard to investment returns, program design, and benefits paid to program participants.

(c) An employer s voluntary contribution under subdivision (j) of Section 100012 shall not in any way contradict the provisions of this section or change the employer s relationship to the program or an employer s obligations to employees.

(Added by Stats. 2012, Ch. 734, Sec. 3. Effective January 1, 2013. Conditionally operative as provided in Section 100042.)

Section: Previous  100020  100022  100024  100026  100028  100030  100032  100034  100036  100038  100040  100042  100043  100043.5  100044  Next

Last modified: September 9, 2016