California Education Code

§ 22177

EDC § 22177 Effective Jan 1, 2001Div. 1 · Title 1 · Part 13 · Ch. 2

Statute text

(a)“Unfunded actuarial obligation,” with respect to the Defined Benefit Program, means that portion of the actuarial present value of benefits that is not provided for by future, normal costs or covered by the actuarial value of assets attributable to the Defined Benefit Program, based on assumptions adopted by the board pursuant to Section 22311.5.

(b)“Unfunded actuarial obligation,” with respect to the Defined Benefit Supplement Program, means that portion of the actuarial present value of benefits that is not provided for by future, normal costs or covered by the actuarial value of assets attributable to the Defined Benefit Supplement Program, based on assumptions adopted by the board pursuant to Section 22311.5.

Legislative history

Added by Stats. 2000, Ch. 1021, Sec. 12. Effective January 1, 2001.