California Education Code

§ 22162

EDC § 22162 Effective Jan 1, 2010Div. 1 · Title 1 · Part 13 · Ch. 2

Statute text

“Regular interest” means interest that is equal to the actuarially assumed rate of return on investments on assets of the Defined Benefit Program. The regular interest rate shall be adopted annually by the board as a plan amendment with respect to the Defined Benefit Program. This section shall become operative on July 1, 2010.

Legislative history

Repealed (in Sec. 1) and added by Stats. 2009, Ch. 249, Sec. 2. (AB 654) Effective January 1, 2010. Section operative July 1, 2010, by its own provisions.