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Legal Resources | Title 5 |  T5  42851  

Qualified 403 (b) Plan Contracts.   

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Qualified 403 (b) plan contributions purchased on behalf of employees of the California State University pursuant to this Article shall satisfy the provisions of Internal Revenue Code Section 403(b) as well as California Revenue and Taxation Code Section 17512. The accuracy of all computations, including but not limited to the amount of exclusion allowance, includable compensation, and years of service pursuant to the cited codes shall be the responsibility of the individual employee, or, should the insurance, annuity, or pension plan company undertake such commitment, of the company which provides the qualified 403(b) plan, or both the employee and the company. Such computations shall not be the responsibility of the State of California, the Board of Trustees, nor of any officer or employee of the California State University assigned any duties in connection with the administration of this Article.

Authority cited:

Education Code 66600

Education Code 89030

Education Code 89035

Education Code 89500

Reference:

Education Code 89505

(Amended by Register 82, No. 39.)