California Education Code

§ 26204

EDC § 26204 Effective Jan 1, 1999Div. 1 · Title 1 · Part 14 · Ch. 3

Statute text

The board shall establish an Annuitant Reserve within the Teachers’ Retirement Fund for the Cash Balance Benefit Program. The board has sole authority to administer the Annuitant Reserve for the payment of annuities. The board may transfer the credits from a participant’s employee account and employer account to the Annuitant Reserve upon election of an annuity by the participant or beneficiary of the participant.

Legislative history

Amended by Stats. 1998, Ch. 1048, Sec. 28. Effective January 1, 1999.