If a person elects, pursuant to Section 26403, to participate in the Cash Balance Benefit Program, his or her employer shall make contributions, as provided in Section 26503, based on the salary or other compensation paid for trustee service. For a participant subject to the California Public Employees’ Pension Reform Act of 2013, other compensation paid for trustee service is subject to the same requirements as “salary” as defined in Section 26139.5.
(Amended by Stats. 2013, Ch. 559, Sec. 38. (AB 1381) Effective January 1, 2014. Deemed operative January 1, 2013, by Sec. 1 of Ch. 559.)
Last modified: October 25, 2018