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HomeEducation CodeDiv. 1Pt. 13Ch. 1§ 22002 Teacher Retirement Funding Obligations

§ 22002 Teacher Retirement Funding Obligations

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 22002 Teacher Retirement Funding Obligations

Key Takeaways

  • •Teachers and their bosses (like schools) have to pay a part of their salary into a retirement fund.
  • •The state also adds money to this fund to help pay for teachers' retirement benefits.
  • •This is because there isn't enough money in the fund to pay for all the retirement benefits teachers earned before July 1, 1972.

Example

A teacher named Mrs. Smith works at a public school. Every month, part of her paycheck goes into a retirement fund.

Mrs. Smith and her school both put money into the fund. The state also adds money to make sure there's enough to pay for her retirement when she stops working.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 22002 Teacher Retirement Funding Obligations

The Legislature recognizes that the assets of the State Teachers’ Retirement Plan with respect to the Defined Benefit Program are insufficient to meet the obligations of that program already accrued or to accrue in the future with respect to service credited to members of that program prior to July 1, 1972. Therefore, the Legislature declares the following policies with respect to the financing of the Defined Benefit Program of the State Teachers’ Retirement Plan: (a) Members shall contribute a percentage of creditable compensation, unless otherwise specified in this part. (b) Employers shall contribute a percentage of the total creditable compensation on which member contributions are based. (c) The state shall contribute a sum certain for a given number of years for the purpose of payment of benefits under this part. (Amended by Stats. 1998, Ch. 965, Sec. 1. Effective January 1, 1999.)

Last verified: January 23, 2026

Key Terms

State Teachers’ Retirement PlanDefined Benefit Programcreditable compensationJuly 1, 1972

Related Statutes

  • § 22002.5 Teachers' Retirement Plan Insufficiency
  • § 22001.5 State Teachers Cash Balance Plan
  • § 22007 Member Benefit Obligations
  • § 22008 Retirement Fund Error Corrections
  • § 26000 Cash Balance Plan Eligibility

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 22002.
View Official Source