Section 589.8 - Source of Benefits(a) Replacement Benefit Custodial Fund--All benefits payable under this Plan shall be paid solely from the Replacement Benefits Custodial Fund.(b) No Employee Deferrals--No employee contributions or deferrals shall be made or allowed under the Plan at any time. In accordance with Section 415(m), no election to defer compensation under this Plan shall be provided, at any time or in any manner, to any person.(c) No Use of CalPERS Assets--Except as specifically allowed by governing federal and state law (including but not limited to governing federal and state tax laws), assets used to provide benefits under this Plan shall not be commingled with the monies of the PERF or any other CalPERS retirement trust fund or any other qualified plans, nor shall this Plan ever receive or use any assets of the PERF.Cal. Code Regs. Tit. 2, § 589.8
1. New section filed 1-25-2001; operative 1-25-2001 pursuant to Government Code section 11343.4(c). Submitted to OAL for printing only (Register 2001, No. 4). Note: Authority cited: Sections 20120, 20121 and 21760, Government Code. Reference: Section 21757, Government Code.
1. New section filed 1-25-2001; operative 1-25-2001 pursuant to Government Code section 11343.4(c). Submitted to OAL for printing only (Register 2001, No. 4).