TITLE 1. GENERAL EDUCATION CODE PROVISIONS 1-32527›DIVISION 1. GENERAL EDUCATION CODE PROVISIONS 1-32527›PART 13. STATE TEACHERS' RETIREMENT SYSTEM 22000-25115›CHAPTER 36. Annuity Contract and Custodial Accounts 24950-24953

§ 24950.5

California Education Code · 2026-09 edition · updated 2026-10-03 · California

(a) The system may administer an individual retirement plan as described in Section 408A of Title 26 of the United States Code for the purpose of accepting a rollover from an annuity contract or custodial account offered by the system pursuant to this chapter to the extent the rollover complies with Title 26 of the United States Code.

(b) The system may provide for the administration of the individual retirement plan described in subdivision (a) by a qualified third-party administrator who shall, by agreement with the system, provide custodial, investment, recordkeeping, or administrative services, or any combination thereof.

(Added by Stats. 2008, Ch. 432, Sec. 1. Effective January 1, 2009.)

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