Cal. Code Regs. tit. 2 § 599.102

Current through Register 2024 Notice Reg. No. 25, June 21, 2024

Section 599.102 - Exclusive Benefit Requirement

Pursuant to Internal Revenue Code Section 401(a)(2), the corpus or income of the plan'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.

Cal. Code Regs. Tit. 2, § 599.102

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

Note: Authority cited: Sections 20121, 22970.30 and 22970.31, Government Code. Reference: California Constitution, Article XVI, Section 17; Sections 22970, 22970.2 and 22970.61, 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).