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.
","text":"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.","otherVersions":[],"url":"https://blackletter.si/government-code/california-employers-pension-prefunding-trust-program-21710","source":"California Legislative Information bulk export (pubinfo)"}