EIC96-1 Volume 12 Issue 1
Changes to the Education Code Affecting the State Teachers' Retirement System (STRS) Enacted in the 1995 Portion of the 1995/96 Legislative Session
This information circular has been prepared to inform you of changes to the Teachers’ Retirement Law (TRL) sections of the Education Code. These changes, which affect STRS, resulted from legislation enacted in the 1995 portion of the 1995-96 Legislative Session and are effective on January 1, 1996, unless another date is specified. (If greater detail on a bill is required, please refer to the specific bill, as chaptered.)
Chapter 592, Statutes of 1995, AB-1298 (Ducheny) added Part 14 to the Education Code (commencing with section 26000) to establish the Cash Balance Plan. Beginning July 1, 1996, employers may elect to provide the Cash Balance Plan as an alternative plan for persons employed to perform creditable service for less than 50% of the full-time equivalent.
Employer Information Circulars [EIC] are sent to school district and community college employers as informal guidance that provides immediate information on a single topic.
PO Box 15275
Sacramento, CA 95851