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| 403(b) Compliance Services |
| Bill #: AB 2462 |
Author: Mullin |
| Version: Chaptered 9/29/2006 |
Sponsor: Teachers' Retirement Board |
| Location: Chapter 780, Statues of 2006 |
Board Position: Sponsor |
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Bill Text/Status |
| Summary:
Specifies key components of due diligence that school employers must perform during their
selection of a third party administrator (TPA) for their deferred compensation plans,
including CalSTRS. Authorizes the Board to contract to supply administrative and compliance
services for employer-sponsored deferred compensation plans to school districts that contract
with CalSTRS for those services. Allows the costs for TPA services to be paid by participants,
establishes a start up funding mechanism and requires school districts to review ability of
TPAs to meet specified standards. |
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