Unclaimed property: employee benefit plans.

Existing law, the Unclaimed Property Law, provides that all tangible personal property located in the state and all intangible personal property, except property of specified classes, that has remained unclaimed by the owner for specified time periods escheats to the state. Existing law specifies the circumstances under which unclaimed employee benefit plan distributions escheat to the state. This bill would make a technical, nonsubstantive change to the provisions governing the escheat of employee benefit plan distributions.