California Government Code

§ 7522.52

GOV § 7522.52 Effective Jan 1, 2013Div. 7 · Title 1 · Ch. 21 · Art. 4

Statute text

(a)In any fiscal year, a public employer’s contribution to a defined benefit plan, in combination with employee contributions to that defined benefit plan, shall not be less than the normal cost rate, as defined in Section 7522.30, for that defined benefit plan for that fiscal year.

(b)The board of a public retirement system may suspend contributions when all of the following apply:

(1)The plan is funded by more than 120 percent, based on a computation by the retirement system actuary in accordance with the Governmental Accounting Standards Board requirements that is included in the annual valuation.

…

Legislative history

Added by Stats. 2012, Ch. 296, Sec. 15. (AB 340) Effective January 1, 2013.