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Legislation seeking to improve California 403(b) plans passed out of Assembly Appropriations on May 22, 2002, by a
vote of 17 to 7. Sponsored by Darrell Steinberg (D-Sacramento), the goal of AB 2506 is to provide both an objective
403(b) vendor comparison information source for teachers, and a process for providing access to a reasonable range
of vendors and products, including low cost and no-load options. From here the legislation moves to the Assembly floor,
where action on the measure is expected before the end of next week.
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