CA AB2998

Allows school districts to offer defined contribution plans to certificated employees as an alternative to the State Teachers' Retirement System's defined benefit plan.

Employees who opt into a defined contribution plan are excluded from membership in the Defined Benefit Program.

Permits school districts to offer higher salaries or lower contribution rates as incentives for employees to select defined contribution plans.

Allows certificated employees to negotiate individual salaries or contribution rates outside of the district's standard salary schedule if they opt into a defined contribution plan.

Provisions do not apply to school districts with existing collective bargaining agreements until those agreements expire or are renewed after January 1, 2021.