The California State Teachers’ Retirement System and the Teachers’ Retirement Board propose to adopt a new regulation, in the form of Section 27650 in Article 1 of Chapter 2.5, Division 3, Title 5 of the California Code of Regulations, after considering all comments, objections and recommendations regarding the proposed action.
Education Code section 22119.3 requires that compensation be paid “each pay period the creditable service is performed” for it to be creditable to CalSTRS for 2% at 62 Defined Benefit Program members. Education Code section 26139.5 requires that salary be paid “each pay period in cash by an employer to a participant for creditable service performed” for it to be creditable to CalSTRS for Cash Balance Benefit Program participants subject to the Public Employees’ Pension Reform Act of 2013.
To further clarify and make specific these statutory requirements, the proposed regulation provides that remuneration paid for the service performed within 30 days of the beginning or end of a pay period is deemed to be paid in a pay period in which a member or participant performs creditable service.
OAL File Number Z-2023-0711-02
Posted on July 21, 2023
Written comment period closes on September 13, 2023.Notice of Proposed RulemakingText of Proposed RegulationsInitial Statement of ReasonsEconomic and Fiscal Impact Statement (Standard Form 399)