California Education Code

§ 25006

EDC § 25006 Effective Jan 1, 2017Div. 1 · Title 1 · Part 13 · Ch. 38 · Art. 2

Statute text

(a)The board may declare an additional earnings credit to be applied to Defined Benefit Supplement accounts for a plan year. Prior to declaring an additional earnings credit, the board shall consider all of the following:

(1)Whether the plan’s investment earnings with respect to the Defined Benefit Supplement Program for the plan year exceed the amount required to meet the liabilities identified in paragraphs (2), (3), and (4).

(2)The amount required for the plan year to credit interest on members’ nominal accounts at the minimum interest rate.

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Legislative history

Amended by Stats. 2016, Ch. 218, Sec. 39. (SB 1352) Effective January 1, 2017.