Amended by Stats. 2019, Ch. 330, Sec. 17. (SB 782) Effective January 1, 2020.
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.
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