Title EDC, California Educ. Code

(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 produ…

The board shall include notice of the existence of, and the Internet Web site address for, the impartial investment information bank in each newsletter sent to members. The board shall include a notice in the individual account statements of members of the Defined Benefit Program…

The board shall design the information bank Internet Web site and include retirement investment product plan information and education materials taken from and referenced to the Internal Revenue Service, the Securities and Exchange Commission, the National Association of Insuranc…

A vendor may not charge a fee associated with a registered 403(b) product that is not disclosed, pursuant to Section 25101. (Amended by Stats. 2004, Ch. 912, Sec. 26. Effective January 1, 2005.)

(a) The actual cost of establishing the vendor registration system and the investment information bank shall be borne equally by registered vendors, based on the total number of registered vendors. Each registered vendor shall pay a one-time establishment fee equal to a pro rata …

(a) The board and the system, and its officers and employees, are not responsible for, and may not be held liable for the adequacy of the information provided by the participating vendors contained in the information bank. The information bank maintained by the board serves only …

The board shall complete the initial registration process on or before July 1, 2004. (Added by Stats. 2002, Ch. 1095, Sec. 2. Effective January 1, 2003.)

Each employer, in consultation with the exclusive bargaining agent of its employees, if any, may develop a process to ensure that employees are aware of, and have access to, information provided in the impartial investment bank maintained by the board. (Amended by Stats. 2008, Ch…

Personnel, including elected school officials, acting on behalf of an employer, may not receive consideration from a vendor in exchange for the promotion of a particular vendor or vendor’s products. (Amended by Stats. 2008, Ch. 230, Sec. 6. Effective January 1, 2009.)

An employer may not forward annuity or custodial account consideration to the vendor of any unregistered 403(b) product, except insofar as an employee continues making contributions to an unregistered product or products as described in Section 25114. (Amended by Stats. 2008, Ch.…

Except as provided in this section, an employee shall select from registered 403(b) products. (a) An employee of a local school district, community college district, or county office of education may continue to make contributions to unregistered products purchased or entered int…

For purposes of restricting the use of 403(b) investment products provided to eligible employees of employers by those vendors and investment products registered with the board pursuant to this chapter, the provisions of Section 770.3 of the Insurance Code do not apply. (Amended …