Cal. Code Regs. Tit. 2, § 599.142 - Exclusive Benefit Requirement

Pursuant to Internal Revenue Code Section 401(a)(2), the corpus or income of the Judges' Retirement System II's trust may not be diverted to or used for purposes other than the exclusive benefit of the members or their beneficiaries, nor shall there be a reversion of trust funds except as permitted by IRS Revenue Ruling 91-4, 1991-1 C.B. 57.

Notes

Cal. Code Regs. Tit. 2, § 599.142

1. New section filed 2-23-2015; operative 4-1-2015 (Register 2015, No. 9).

Note: Authority cited: Sections 20121 and 75505, Government Code. Reference: California Constitution, Article XVI, Section 17; Section 75505, Government Code; and Section 401(a)(1)-(2), Title 26, United States Code.

1. New section filed 2-23-2015; operative 4/1/2015 (Register 2015, No. 9).