Except as provided in this section, an employee shall select from registered 403(b) products.
(a) An employee of a local school district, community college district, or county office of education may continue to make contributions to unregistered products purchased or entered into prior to November 30, 2004.
(b) A state employee of a state employer under the uniform state payroll system, excluding the California State University System, eligible to participate in an annuity contract and custodial account as described in Section 403(b) of the Internal Revenue Code of 1986, may continue to make contributions to unregistered products purchased or entered into prior to January 1, 2009.
(Amended by Stats. 2012, Ch. 864, Sec. 18. (AB 2663) Effective January 1, 2013.)
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