California Code of Regulations
Title 10 - Investment
Chapter 15 - Calsavers Retirement Savings Board
Section 10006 - Individual Participation
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) An individual who is at least eighteen years of age, and who is not an Eligible Employee may elect to participate in the Program as a Participating Individual outside of an employment relationship with an Eligible Employer. An individual may enroll in the Program through any of the methods established in Section 10004(d) by providing the information required in Section 10003(a).
(b) Any recurring Contribution by a Participating Individual must be made at least as frequently as weekly, once every two weeks, twice monthly, or once monthly and must be made through Electronic Fund Transfer, and must be at least $10.
(c) Participating Individuals may make non-recurring Contributions.
Non-recurring Contributions must be in an amount of at least $10 and must be made through Electronic Fund Transfer or by personal check.
(d) Businesses that use the services of Participating Individuals have not elected to participate in the Program merely because they, at the request of Participating Individuals, choose to facilitate remittance to the Administrator for deposit into a Participating Individual's Account all or a portion of the money owed to such Participating Individuals. Exempt Employers that choose to facilitate deposits to a Participating Individual's Account shall take all steps necessary to ensure their payroll deduction IRA program is not an employee benefit plan regulated under Title 1 of the Employee Retirement Income Security Act (ERISA).
1. New section filed
11-19-2018 as an emergency; operative 11-19-2018 (Register 2018, No. 47). A
Certificate of Compliance must be transmitted to OAL by 5-20-2019 or emergency
language will be repealed by operation of law on the following day.
2.
New section refiled 5-6-2019 as an emergency; operative 5-21-2019 (Register 2019,
No. 19). A Certificate of Compliance must be transmitted to OAL by 8-19-2019 or
emergency language will be repealed by operation of law on the following
day.
3. New section refiled 8-12-2019 as an emergency; operative
8-20-2019 (Register 2019, No. 33). A Certificate of Compliance must be transmitted
to OAL by 11-18-2019 or emergency language will be repealed by operation of law on
the following day.
4. Certificate of Compliance as to 8-12-2019 order,
including amendment of section, transmitted to OAL 9-23-2019 and filed 10-31-2019;
amendments operative 10-31-2019 pursuant to Government Code section
11343.4(b)(3)
(Register 2019, No. 44).
5. Amendment of subsection (a) filed 8-31-2020
as an emergency; operative 8-31-2020 (Register 2020, No. 36). A Certificate of
Compliance must be transmitted to OAL by 3-1-2021 or emergency language will be
repealed by operation of law on the following day.
6. Emergency filed
8-31-2020 extended 60 days pursuant to Executive Order N-40-20 and an additional 60
days pursuant to Executive Order N-71-20 (Register 2020, No. 39). A Certificate of
Compliance must be transmitted to OAL by 6-29-2021 or emergency language will be
repealed by operation of law on the following day.
7. Amendment of
subsection (b), new subsections (c)-(c)(2) and subsection relettering filed
1-25-2021 as an emergency; operative 1-25-2021. Pursuant to Health and Safety Code
section
1363.04(f),
this action is a deemed emergency and exempt from OAL review. Expiration date of
emergency action extended 60 days (Executive Order N-40-20) plus an additional 60
days (Executive Order N-71-20) (Register 2021, No. 5). A Certificate of Compliance
must be transmitted to OAL by 11-23-2021 or emergency language will be repealed by
operation of law on the following day.
8. Amendment of subsection (a)
refiled 6-28-2021 as an emergency; operative 6-30-2021. Emergency expiration
extended 60 days (Executive Order N-40-20) plus an additional 60 days (Executive
Order N-71-20) (Register 2021, No. 27). A Certificate of Compliance must be
transmitted to OAL by 1-28-2022 or emergency language will be repealed by operation
of law on the following day.
9. Amendment of subsection (b), new
subsections (c)-(c)(2) and subsection relettering refiled 11-17-2021 as an
emergency; operative 11-24-2021. Pursuant to Health and Safety Code section
1363.04(f),
this action is a deemed emergency and exempt from OAL review (Register 2021, No.
47). A Certificate of Compliance must be transmitted to OAL by 2-22-2022 or
emergency language will be repealed by operation of law on the following
day.
10. Certificate of Compliance as to 11-17-2021 order transmitted to
OAL 12-2-2021 and filed 1-13-2022 (Register 2022, No. 2).
11. Amendment
of subsection (c) and repealer of subsections (c)(1)-(2) filed 12-21-2022 as an
emergency; operative 1-1-2023 (Register 2022, No. 51). A Certificate of Compliance
must be transmitted to OAL by 6-30-2023 or emergency language will be repealed by
operation of law on the following day.
12. Amendment of subsection (c)
and repealer of subsections (c)(1)-(2) refiled 6-19-2023 as an emergency; operative
6-30-2023 pursuant to Government Code section
11346.1(d)
(Register 2023, No. 25). A Certificate of Compliance must be transmitted to OAL by
9-28-2023 or emergency language will be repealed by operation of law on the
following day.
13. Certificate of Compliance as to 6-19-2023 order
transmitted to OAL 6-23-2023 and filed 8-7-2023 (Register 2023, No.
32).
Note: Authority cited: Sections 100010 and 100048, Government Code. Reference: Sections 100002 and 100012, Government Code.
