(a) Except as provided in subdivision (b), the system shall make available, after the end of the plan year, to each participant having a balance in his or her employee account or employer account, a statement setting forth the balance as of the close of the plan year and amounts credited for the year. The system shall mail a copy of the participant’s statement, provided that the employer or participant has informed the system of the participant’s current mailing address and the participant has not requested to receive that statement electronically, in lieu of mailing.
(b) The mode of issuance described in subdivision (a) is subject to Section 22337.
(Amended by Stats. 2013, Ch. 459, Sec. 10. (AB 989) Effective January 1, 2014.)