California Law (Last Updated: March 4, 2014) |
Education Code - EDC |
Title 1. GENERAL EDUCATION CODE PROVISIONS |
Division 1. GENERAL EDUCATION CODE PROVISIONS |
Part 14. STATE TEACHERS’ RETIREMENT SYSTEM CASH BENEFIT PROGRAM |
Chapter 2. Definitions |
Section 26101.
Latest version.
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"Actuarial equivalent" means a benefit that has the same present value as the benefit it replaces based on interest rates and mortality tables recommended by the actuary and adopted by the board as a plan amendment.
(Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)