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Board amends articles and bylaws to preserve participation in state pension plan
Summary
Directors approved amendments to the school's articles of incorporation and bylaws so the charter remains eligible to participate in the state retirement plan, adding dissolution language required by IRS guidance (assets must transfer to a public K‑12 entity or political subdivision).
The Natomas Charter District board voted April 20 to amend its articles of incorporation and bylaws to comply with requirements tied to continued participation in the state retirement plan referenced in board materials as 'Calsters.'
Administrators said the IRS guidance cited (IRS Notice 2015‑07) and applicable plan rules require that, upon dissolution or final liquidation, any remaining assets be…
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