California Education Code

§ 26211

EDC § 26211 Effective Jan 1, 1999Div. 1 · Title 1 · Part 14 · Ch. 3

Statute text

The board shall acquire the services of an actuary to:

(a)Perform an actuarial investigation of the demographic and economic experience of the Cash Balance Benefit Program at least once every four years and make recommendations to the board for the adoption of actuarial assumptions for the program that are, in the aggregate, reasonably related to the past experience of the program and the actuary’s best estimate of the future experience of the program.

(b)Perform an annual actuarial valuation of the assets and liabilities of the plan with respect to the Cash Balance Benefit Program, using the actuarial assumptions adopted by the board.

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Legislative history

Amended by Stats. 1998, Ch. 965, Sec. 252. Effective January 1, 1999.