California Education Code

§ 22955.1

EDC § 22955.1 Effective Jan 1, 2026Div. 1 · Title 1 · Part 13 · Ch. 16

Statute text

(a)Notwithstanding Section 13340 of the Government Code, commencing July 1, 2003, a continuous appropriation is hereby annually made from the General Fund to the Controller, pursuant to this section, for transfer to the Teachers’ Retirement Fund. The total amount of the appropriation for each year shall be equal to 2.017 percent of the total of the creditable compensation of the fiscal year ending in the immediately preceding calendar year upon which members’ contributions are based, as reported annually to the Director of Finance, the Chairperson of the Joint Legislative Budget Committee, and the Legislative Analyst pursuant to Section 22955.5, and shall be divided into four equal payments. The payments shall be made on July 1, October 1, December 15, and April 15 of each fiscal year. If any of these dates fall on a weekend or holiday, the funds shall be transferred the next business day.

(b)(1) Commencing July 1, 2014, the amount of the appropriation required under subdivision (a) shall increase by the following percentages of the creditable compensation upon which that appropriation is based:

(A)On July 1, 2014, by 1.437 percent.

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Legislative history

Amended by Stats. 2025, Ch. 239, Sec. 7. (SB 853) Effective January 1, 2026. Section inoperative July 1, 2046, or sooner as prescribed in subd. (g). Repealed on or before January 1, 2047, by its own provisions.