§ 21710
116 words·~1 min read·
/ca/government-code/21710A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of this chapter, the following definitions shall apply:
(a)“Participating employer” means an employer that is authorized and has elected to participate in the prefunding plan.
(b)“Prefunding plan” means the California Employers’ Pension Prefunding Trust Fund, a trust fund administered by the board, for the purpose of investing employer payments toward their required pension contributions to a defined benefit pension plan and that is intended to meet the requirements of Section 115 of the Internal Revenue Code.
(c)“Required pension contributions” means future contributions to a defined benefit pension plan required to fund the present value of plan benefits, calculated in compliance with Actuarial Standards of Practice of the American Academy of Actuaries.