California Education Code

§ 25104

EDC § 25104 Effective Jan 1, 2003Div. 1 · Title 1 · Part 13 · Ch. 39

Statute text

(a)The board shall maintain an impartial investment information bank, via an Internet Web site, containing the information required by Section 25101 about the retirement investment products offered by each registered vendor and objective comparisons of vendors and types of products.

(b)The information bank shall include information on investment performance based upon the investment’s average annual total return, as measured by a nationally recognized rating service selected by the board for standard periods of time of not less than one year.

(c)The Web site shall include a table showing, for each registered fund, the total fee cost in dollars incurred by a shareholder who initially invested ten thousand dollars ($10,000), earned a 5 percent rate of return for one, five, 10, 15, and 20 year time periods. This table shall be accompanied by a disclaimer that the rate of return is for purposes of illustrating the respective impacts of different fee amounts on each investment, and is not to predict future investment returns.

…

Legislative history

Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.