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Compliance February 8, 2004
California's Davis Gets 403(b) Bill
August 26, 2002 (PLANSPONSOR.com) - Legislation that
would establish a registration process for 403(b) program
vendors in California has cleared another hurdle.
Reported by Fred Schneyer
According to 403bwise.com, 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.