Section 89602 Of Article 1. General Provisions From California Education Code >> Division 8. >> Title 3. >> Part 55. >> Chapter 5.5. >> Article 1.

. Under this optional retirement program, the trustees shall offer eligible employees contracts, certificates, or investment funds providing retirement and death benefits, funded through annuities or investment fund options. The state and eligible employees electing this optional retirement program shall contribute to the optional retirement program to the extent authorized or required by this chapter. Benefits under the contracts, certificates, or investment funds are owned by the participants.