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