CA AB2099

Establishes a pilot project through January 1, 2018, allowing Los Angeles Unified School District and Los Angeles Community College District to select specific 403(b) retirement products from at least 4 vendors or create a preferred vendor list through a competitive review process.

Requires a joint committee with equal representation of bargaining unit members and management to recommend vendors and products to the school employer's governing body.

Prohibits prospective vendors from communicating with governing body or committee members outside official meetings, providing financial payments to decision-makers, or violating school employer communication policies; violations result in vendor disqualification or contract termination.

Requires school employers to report to the Legislature by January 1, 2017, on employee participation rates, weighted average fees, and administrative costs associated with offering 403(b) products.

Pilot project authority and new Insurance Code Section 770.4 sunset on January 1, 2018, unless extended by subsequent legislation enacted before that date.