CHAPTER 2. Definitions
Chapter 2 added by Stats. 1999, Ch. 307, Sec. 4.
§§ 22970.10–22970.26 · 18 sections
- § 22970.10 “Account” means the account maintained with respect to the participant that reflects the aggregate value of the following amounts credited to the participant:…
- § 22970.11 “Beneficiary” means any person or persons designated by the participant pursuant to this part, or otherwise entitled by statute, to receive distributions from…
- § 22970.12 “Board” means the Board of Administration of the Public Employees’ Retirement System.
- § 22970.13 “Compensation” means the total amount paid to an employee for a plan year as required to be reported on the employee’s Internal Revenue Service form W-2 for…
- § 22970.14 “Disability” means a disability of permanent or extended and uncertain duration, as determined by the board.
- § 22970.15 “Early retirement age” means the age at which the participant attains age 50 or qualifies for early retirement under Part 3 (commencing with Section 20000).
- § 22970.16 (a) “Eligible employee” means: (1) A person employed by the state, the university, a school employer, or a contracting agency who is a member of the system as…
- § 22970.17 “Employee contribution” means the amount contributed by the participating employee to his or her account in the plan.
- § 22970.175 “Employer” means any city, county, city and county, district, school district, community college district, county superintendent of schools, or other public…
- § 22970.18 “Fund” means the Supplemental Contributions Program Fund.
- § 22970.19 “Net earnings” means the income earned, or losses incurred, after asset management fees, on the applicable investment fund options offered under the…
- § 22970.20 “Participant” means an eligible employee who has contributions credited under the plan.
- § 22970.21 “Plan” means the Supplemental Contributions Program.
- § 22970.22 “Plan year” means the 12-month period commencing on any January 1 and ending on the following December 31.
- § 22970.23 “Retirement” means termination of all employment for the employer and completion of all conditions precedent to receiving a distribution for retirement.
- § 22970.24 “System” means the Public Employees’ Retirement System.
- § 22970.25 “Termination” means termination of employment by reason of separation from all service for all employers that participate in the system.
- § 22970.26 “Valuation date” means the date as of which the assets of the fund are valued.