County offices of education, school districts and community college districts shall not be required to participate in a risk pool. County offices of education, school districts and community college districts shall only be allowed to establish a contract with CalPERS to participate in a risk pool if the service retirement formula of the risk pool provides higher factors at all ages than the service retirement formula applicable to school members.

Note: Authority cited: Sections 20120, 20121 and 20840, Government Code. Reference: Section 20840, Government Code.

History

1. New section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code section 11343.4 (Register 2004, No. 39).

2. Amendment filed 5-12-2026; operative 7-1-2026 (Register 2026, No. 20).