SB 1405·CA·senate
Unclaimed personal property: employee benefit plan distributions.
Sent to ExecutiveFiled Feb 20, 2026
Sponsor: Lola Smallwood-Cuevas (D)
Latest Action
Enrolled and presented to the Governor at 3 p.m.
Aug 21, 2026
Summary
The bill amends California's unclaimed property law to require that a distribution be subject to an unreversed forfeiture before it can be exempt from escheat. It applies to participants, fiduciaries, and administrators of employee benefit plans and ensures state rules line up with federal ERISA requirements.
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