California's Davis Gets 403(b) Bill

August 26, 2002 ( - Legislation that would establish a registration process for 403(b) program vendors in California has cleared another hurdle.

According to, the California Assembly voted 43-20 August 23 to concur with the Senate amendments to AB 2506.  The bill is now waiting for Governor Gray Davis’ signature.

Sponsored by Assemblyman Darrell Steinberg (D-Sacramento), the bill, which is also supported by 403bwise, is backed by TIAA-CREF, as well as:

  • United Teachers of Los Angeles
  • California Teachers Association
  • California School Employees Association
  • Faculty Association of California Community Colleges
  • AFT College Faculty Guild
  • Small School Districts’ Association
  • Association of California School Administrators and
  • California School Boards Association.

It is opposed by the California Federation of Teachers.