CA AB2260

Authorizes the Teachers' Retirement Board to transfer assets from the Teachers' Retirement Program Development Fund to designated accounts for efficient program administration.

Requires the system to calculate actuarial present value of expected payments when employers report erroneous information causing overpayments, with employers paying the difference between total overpayment and actuarial value.

Clarifies that disability retirement and disability allowance applications must be submitted on properly executed forms prescribed by the system.

Prevents changes or cancellations of retirement options from being made on the effective date of a member's retirement.

Adds conflict of interest provisions identifying specific positions subject to two-year post-employment restrictions on representing parties before the Teachers' Retirement Board.