California Code, EDC 28101.

California Code, EDC 28101.

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Education Code - EDC

TITLE 1 GENERAL EDUCATION CODE PROVISIONS [1. - 32527]   ( Title 1 enacted by Stats. 1976, Ch. 1010. )   DIVISION 1 GENERAL EDUCATION CODE PROVISIONS [1. - 32527]   ( Division 1 enacted by Stats. 1976, Ch. 1010. )   PART 14. STATE TEACHERS’ RETIREMENT SYSTEM CASH BENEFIT PROGRAM [26000 - 28101]   ( Heading of Part 14 amended by Stats. 2009, Ch. 304, Sec. 32. )  Â

CHAPTER 17. Discontinuation of Plan [28100 - 28101] Â Â ( Chapter 17 added by Stats. 1996, Ch. 608, Sec. 56. )

  28101.  (a) Upon discontinuation of the Cash Balance Benefit Program by the employer, the system will hold the employee and employer accounts for the benefit of the participant. The participant is immediately vested in both employee and employer accounts including accrued interest. (b) Both employee and employer accounts will continue to be credited with interest at the minimum interest rate so long as there is an undistributed balance in such accounts. (Amended by Stats. 1998, Ch. 1048, Sec. 51. Effective January 1, 1999.)