Statute · California Education Code
Cal. Educ. Code § 24950.5 — Annuity Contract and Custodial Accounts
Cal. Educ. Code § 24950.5
- Type
- Statute
- Source
- California Education Code
- Jurisdiction
- California
- Date
- 2009-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(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…
Citator
Cal. Educ. Code § 24950.5 — Annuity Contract and Custodial Accounts is in force in the current edition of the Code, and nothing recorded condemns it.
(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.