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Education Code - EDC - EDC § 22310
Education Code - EDC - EDC § 22310
(a) If a benefit or refund cannot be paid because, after a good faith effort, the member or beneficiary cannot be located, the amount payable shall be returned to the retirement fund until the time the party entitled to payment is located. (b) Interest shall continue to accrue on
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Education Code - EDC - EDC § 22311
Education Code - EDC - EDC § 22311
The board shall maintain all data necessary to perform an actuarial investigation of the demographic and economic experience of the plan and for the actuarial valuation of the assets and liabilities of the plan.
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Education Code - EDC - EDC § 22311.5
Education Code - EDC - EDC § 22311.5
The board shall acquire the services of an actuary to do all of the following: (a) Make recommendations to the board for the adoption of actuarial assumptions that, in the aggregate, are reasonably related to the past experience of the plan and reflect the actuary’s informed esti
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Education Code - EDC - EDC § 22311.7
Education Code - EDC - EDC § 22311.7
Upon the basis of the actuarial investigation and actuarial valuation pursuant to Section 22311.5, or any part thereof, the board shall adopt by plan amendment actuarial assumptions, rates, factors, and tables as the board determines are necessary for administration of the plan a
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Education Code - EDC - EDC § 22311.9
Education Code - EDC - EDC § 22311.9
(a) The board shall report to the Legislature on or before July 1, 2019, and every five years thereafter, on the fiscal health of the Defined Benefit Program and the unfunded actuarial obligation with respect to service credited to members of that program before July 1, 2014. The
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Education Code - EDC - EDC § 22313
Education Code - EDC - EDC § 22313
(a) No adjustment shall be included in new rates of contribution adopted by the board on the basis of an investigation, valuation, and determination or because of amendment to the Teachers’ Retirement Law with respect to the Defined Benefit Program, for time prior to the effectiv
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Education Code - EDC - EDC § 22314
Education Code - EDC - EDC § 22314
The system shall inform a member, upon retirement, that future tax liabilities may occur as the result of the pending retirement allowance.
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Education Code - EDC - EDC § 22317.5
Education Code - EDC - EDC § 22317.5
(a) The amount of compensation that is taken into account in computing benefits payable under this part to any person who first becomes a member of the Defined Benefit Program on or after July 1, 1996, shall not exceed the annual compensation limitations prescribed by Section 401
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Education Code - EDC - EDC § 22318
Education Code - EDC - EDC § 22318
(a) The initial payment to a disabled member or member retired for disability shall be paid within 45 days following the date the disability is approved, the effective date of the disability retirement or disability allowance, or receipt of all necessary information, whichever oc
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Education Code - EDC - EDC § 22319
Education Code - EDC - EDC § 22319
(a) The initial payment to a member retired for service shall be issued within 45 days of either the effective date of retirement or receipt by the system of a completed application for retirement, whichever is later. The initial payment to an option beneficiary shall be issued w
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Education Code - EDC - EDC § 22320
Education Code - EDC - EDC § 22320
The death benefits provided pursuant to Chapter 22 (commencing with Section 23800), Chapter 23 (commencing with Section 23850), and Chapter 24 (commencing with Section 23880) shall be paid to the beneficiary or estate within 45 days of receipt by the system of all necessary infor
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Education Code - EDC - EDC § 22321
Education Code - EDC - EDC § 22321
The system shall pay interest for delays in excess of the allowable days specified in Sections 22318 to 22320, inclusive. The interest rate for late payments shall be the regular interest rate. Interest payments shall be deemed to be interest earned in the calendar year in which
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Education Code - EDC - EDC § 22322
Education Code - EDC - EDC § 22322
The system shall report monthly to the board on all late payments.
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Education Code - EDC - EDC § 22323
Education Code - EDC - EDC § 22323
The system shall report monthly to the board concerning outstanding death benefits payable that have not been paid within six months of the notification of the death of the member.
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Education Code - EDC - EDC § 22324
Education Code - EDC - EDC § 22324
The board shall file an annual report with the Governor and the Legislature by March 1 of each year on all phases of its work that could affect the need for public contributions for costs of administration of the system, including the subjects of benefits, programs, practices, pr
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Education Code - EDC - EDC § 22324.5
Education Code - EDC - EDC § 22324.5
(a) The amendments to this part by the act adding this section during the second year of the 2023–24 Regular Session are consistent with subdivision (e) of Section 22115. The board shall adopt regulations to the extent required in order to continue to administer the statutes acco
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Education Code - EDC - EDC § 22325
Education Code - EDC - EDC § 22325
(a) The system, at least annually, shall identify and provide resources on its website that interpret and clarify the applicability of creditable compensation and creditable service laws in this part and regulations promulgated pursuant to this part. Resources identified by the s
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Education Code - EDC - EDC § 22326
Education Code - EDC - EDC § 22326
(a) For the purposes of this section: (1) “Advisory letter” means a written determination issued to an employer or an exclusive representative in response to the employer’s or exclusive representative’s submission relating to specific compensation language that is included, or is
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Education Code - EDC - EDC § 22327
Education Code - EDC - EDC § 22327
Notwithstanding any other provision of law, the Employment Development Department shall disclose to the system information in its possession relating to the earnings of any person who is a member of the Defined Benefit Program, if the member is receiving a disability benefit or p
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Education Code - EDC - EDC § 22328
Education Code - EDC - EDC § 22328
(a) Upon termination of a retirement allowance or disability allowance that began to accrue on or after July 1, 1972, the person’s individual account shall be credited with the amount of his or her accumulated retirement contributions as they were on the effective date of retirem
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Education Code - EDC - EDC § 22329
Education Code - EDC - EDC § 22329
In order to provide equitable telephone assistance to all members and beneficiaries, regardless of their location in California, the system shall install a toll-free, “800” prefix, line.
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Education Code - EDC - EDC § 22330
Education Code - EDC - EDC § 22330
(a) The board shall provide the Legislature with an analysis of the asset and liability implications of each bill that would affect the investment strategy of the system, the funding of the plan, or the benefit structure of the plan. The analysis shall include an explanation of t
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Education Code - EDC - EDC § 22337
Education Code - EDC - EDC § 22337
(a) The requirements and procedures described in this section shall apply, to the extent that they are applicable, to the following sections: (1) Section 22309. (2) Section 22661. (3) Section 22662. (4) Section 22663. (5) Section 22801. (6) Section 23104. (7) Section 23203. (8) S
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Education Code - EDC - EDC § 22338
Education Code - EDC - EDC § 22338
(a) (1) This section applies to current employees of the system as a condition of their employment as well as applicants who apply to become employees of the system while a tentative offer is still pending. (2) The criminal history check authorized by this section is limited to t
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Education Code - EDC - EDC § 22350
Education Code - EDC - EDC § 22350
The Legislature finds and declares that changing economic conditions and increasing complexity in the investment market make it necessary and desirable that the system obtain the best possible investment expertise.