California Education Code

§ 22460

EDC § 22460 Effective Jan 1, 2001Div. 1 · Title 1 · Part 13 · Ch. 9

Statute text

(a)If a member terminates employment with less than five years of credited service, the employer shall notify the member of the following:

(1)That unless the member is eligible, or becomes eligible in the future, for concurrent retirement pursuant to paragraph (2) of subdivision (a) of Section 24201, the member is eligible only for a refund of accumulated retirement contributions under the Defined Benefit Program and the return of the member’s accumulated Defined Benefit Supplement account balance.

(2)The current rate of interest that shall be earned on accumulated retirement contributions that are not refunded and the current minimum interest rate that shall be applied to the member’s Defined Benefit Supplement account.

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Legislative history

Repealed and added by Stats. 2000, Ch. 1021, Sec. 17. Effective January 1, 2001.