Observer,
I ask you to kindly read the bill and show me where CSU was exempted from 770.3, they were not. Here is a link to the chaptered bill.
This bill basically allowed the state controllers office to administer there program with more flexibility, it did not give any new powers to CSU to ignore existing California law.
ScottyD
Below are sections of the bill. It amends code and says that CSU is excluded. That is how it reads to me.
An act to amend Sections 24950, 24953, 25100, 25101, 25111, 25112,
25113, 25114, and 25115 of the Education Code, to amend Section
12420.2 of the Government Code, and to amend Section 770.3 of the
Insurance Code, relating to public employees.
SEC. 3. Section 25100 of the Education Code is amended to read:
25100. (a) The board shall establish a vendor registration
process through which information about tax-deferred retirement
investment products as described in Section 403(b) of the Internal
Revenue Code of 1986 shall be made available for consideration by
public employees of all local school districts, community college
districts, county offices of education, and state employees 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.
You've read it wrong. CalSTRS sponsored the bill and there is no exception, even CSU would disagree with you on this one.
ScottyD
Okay then how are they getting around it?