CHAPTER 5.5. Optional Retirement Program

Chapter 5.5 added by Stats. 1990, Ch. 1178, Sec. 1.

§§ 89600–89623 · 12 sections

1. ARTICLE 1. General Provisions §§ 89600–89602 · 3 sections

   • § 89600 This chapter shall be known and may be cited as the Optional Retirement Program.
   • § 89601 In order to encourage qualified teachers to enter and remain in service with the California State University, an optional retirement program is authorized by…
   • § 89602 Under this optional retirement program, the trustees shall offer eligible employees contracts, certificates, or investment funds providing retirement and death…
2. ARTICLE 2. Definitions §§ 89610–89614 · 5 sections

   • § 89610 Unless the context otherwise requires, the definitions set forth in this article govern construction of this chapter.
   • § 89611 “Benefit” means any monthly or lump-sum payment due a retirant, or other beneficiary, and includes lump-sum payments due on account of death.
   • § 89612 “Compensation” and “salary” have the same meaning as set forth in subdivisions (a) and (b) of Section 20022 of the Government Code.
   • § 89613 “Eligible employee” means all faculty and executive, managerial, and supervisory employees of the California State University system whose employment would…
   • § 89614 “Participant” means any person electing the optional retirement program.
3. ARTICLE 3. Administration and Participation §§ 89620–89623 · 4 sections

   • § 89620 (a) Only eligible employees of the California State University may elect to participate in the optional retirement program. (b) Elections to participate in the…
   • § 89621 Any eligible employee electing to participate in the optional retirement program shall be ineligible for membership in the Public Employees’ Retirement System…
   • § 89622 (a) The state shall contribute to the optional retirement program an amount equal to the employer contribution of the trustees to the Public Employees’…
   • § 89623 No retirement, death, or other benefit shall be paid by the state or the trustees for services credited under the optional retirement program. The benefits are…