Title EDC, California Educ. Code

“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, 19…

“Actuary” means a person professionally trained in the technical and mathematical aspects of insurance, pensions, and related fields who has been appointed by the board for the purpose of actuarial services required under this part. (Amended by Stats. 1998, Ch. 965, Sec. 231. Eff…

“Additional earnings credit” means a percentage determined by the board for a plan year by means of a plan amendment and credited to employee accounts and employer accounts on a specified date. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)

“Administrative costs” means the costs of administering the Cash Balance Benefit Program for the plan year as determined by the board. (Amended by Stats. 2000, Ch. 1025, Sec. 38. Effective January 1, 2001.)

“Annuitant Reserve” means the reserve account established by the board within the State Teachers’ Retirement Fund for the payment of monthly annuities with respect to the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 1048, Sec. 15. Effective January 1, 1999.)

“Annuity” means an amount of money payable in monthly installments for a period determined by the option elected by the participant or beneficiary. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)

(a) For purposes of this part, “annuity beneficiary” means the person or trust designated by a participant pursuant to Section 26807, 26807.5, 26906, or 26906.5 to receive an annuity upon the participant’s death. (b) For purposes of this section, “trust” means an irrevocable trus…

“Basis of employment” means the standard of time over which the employer expects service to be performed by an employee in the position during the school term. (Amended by Stats. 2018, Ch. 416, Sec. 26. (SB 1165) Effective January 1, 2019.)

“Beneficiary” means any person or persons or entity designated by the participant pursuant to this part or otherwise entitled by law to receive the death benefit under the plan. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)

“Board” means the Teachers’ Retirement Board. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)

“Cash Balance Benefit Program” means the benefit program set forth in this part of the State Teachers’ Retirement Law. (Amended by Stats. 1998, Ch. 1048, Sec. 17. Effective January 1, 1999.)

(a) “Class of employees” means a number of employees considered as a group because they are employed to perform similar duties, are employed in the same type of program, or share other similarities related to the nature of the work being performed. (b) A class of employees may be…

(a) “Creditable service” means any of the activities described in subdivision (b) performed for any of the following employers: (1) A prekindergarten through grade 12 employer in a position with certification qualifications authorized by the Commission on Teacher Credentialing pu…

“Death benefit” means the benefit payable under this part upon the death of the participant. (Amended by Stats. 1998, Ch. 1048, Sec. 18. Effective January 1, 1999.)

“Defined Benefit Program” means the Defined Benefit Program of the State Teachers’ Retirement Plan as set forth in Part 13 (commencing with Section 22000). (Amended by Stats. 1998, Ch. 1048, Sec. 19. Effective January 1, 1999.)

“Disability benefit” means an amount payable under this part for permanent and total disability that is equal to the sum of the participant’s employee account and employer account as of the disability date and is payable pursuant to Section 26905, 26906, or 26906.5. (Amended by S…

“Disability date” means the date the benefit becomes payable to a participant who has applied for a disability benefit from the plan under this part and has been determined to have a total and permanent disability. (Amended by Stats. 1998, Ch. 965, Sec. 233. Effective January 1, …

“Employee” means a person engaged to perform creditable service. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)

“Employee account” means the nominal account of the participant to which employee contributions and interest and any additional earnings credits in respect thereof are credited under the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 965, Sec. 234. Effective January 1…

“Employee contribution rate” means the percentage of the participant’s salary withheld by the employer as an employee contribution under the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 965, Sec. 235. Effective January 1, 1999.)

“Employee contribution” means the amount withheld from the participant’s salary by the employer as a contribution by the employee under the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 965, Sec. 236. Effective January 1, 1999.)

(a) “Employer” means a school district, community college district, or county office of education that has elected to provide the benefits of this part to persons employed to perform creditable service. “Employer” shall not include the state. (b) The board shall have final author…

“Employer account” means the nominal account of the participant in which employer contributions on behalf of the participant and interest and any additional earnings credits in respect thereof are credited under the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 965, …

“Employer contribution rate” means the percentage of salary that determines the amount the employer contributes to the Cash Balance Benefit Program with respect to each employee who is a participant. (Amended by Stats. 1998, Ch. 965, Sec. 238. Effective January 1, 1999.)

“Employer contribution” means the amount contributed by the employer to the Cash Balance Benefit Program with respect to the participant. (Amended by Stats. 1998, Ch. 965, Sec. 239. Effective January 1, 1999.)

“Employed” or “employment” means employed to perform creditable service subject to coverage under the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 965, Sec. 240. Effective January 1, 1999.)

“Full time equivalent” means the days or hours of creditable service that a person who is employed on a part-time basis would be required to perform in a school term if he or she were employed full time, as defined by Section 22138.5, in that position. (Amended by Stats. 2018, Ch…

“Fund” means the Teachers’ Retirement Fund. (Amended by Stats. 1998, Ch. 1048, Sec. 21. Effective January 1, 1999.)

“Gain and Loss Reserve” means the reserve account established by the board within the fund with respect to the Cash Balance Benefit Program to be drawn upon to the extent necessary to credit interest to employee accounts and employer accounts at the minimum interest rate during y…

“Investment earnings” means income received or receivable during the plan year by the plan from investment of employee contributions, employer contributions, and prior investment earnings. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)

“Minimum interest rate” means the annual rate determined for the plan year by the board by means of an amendment to the plan with respect to the Cash Balance Benefit Program in accordance with applicable federal laws and regulations. (Amended by Stats. 1998, Ch. 965, Sec. 242. Ef…

“Participant” means a person who has performed creditable service subject to coverage by the Cash Balance Benefit Program and who has contributions credited under the Cash Balance Benefit Program or is receiving an annuity under the Cash Balance Benefit Program by reason of credi…

(a) “Participant subject to the California Public Employees’ Pension Reform Act of 2013” means, notwithstanding subdivision (f) of Section 7522.04 of the Government Code, a person who first becomes employed to perform creditable service subject to coverage under the Cash Balance …

“Pay period” means a payroll period specified by the employer but not more than 31 calendar days. (Amended by Stats. 1998, Ch. 965, Sec. 244. Effective January 1, 1999.)

“Plan” means the State Teachers’ Retirement Plan. (Amended by Stats. 1998, Ch. 1048, Sec. 23. Effective January 1, 1999.)

“Plan year” means the calendar, policy, or fiscal year on which the records of the plan are kept, with respect to the Cash Balance Benefit Program. The board by means of plan amendment shall determine the plan year. (Amended by Stats. 1999, Ch. 939, Sec. 77. Effective January 1, …

“Public employer” means a public employer as defined by subdivision (i) of Section 7522.04 of the Government Code. (Added by Stats. 2013, Ch. 559, Sec. 34. (AB 1381) Effective January 1, 2014. Deemed operative January 1, 2013, by Sec. 1 of Ch. 559.)

(a) “Retired participant activities” means one or more activities identified in subdivision (b), (c), or (d) of Section 22119.5 or (b), (c), or (d) of Section 26113 within the California public school system and performed by a participant retired for service under this part as on…

“Retirement” means termination of employment and completion of all conditions precedent to receiving a retirement benefit under the Cash Balance Benefit Program. (Amended by Stats. 1998, Ch. 965, Sec. 245. Effective January 1, 1999.)

“Retirement benefit” means an amount payable under this part in the event of the participant’s retirement for service that is equal to the sum of the participant’s employee account and employer account as of the retirement date and that is payable pursuant to Section 26806, 26807…

“Retirement date” means the date the benefit under this part becomes payable to a participant who has applied for a retirement benefit from the plan under this part. (Amended by Stats. 1998, Ch. 965, Sec. 246. Effective January 1, 1999.)

(a) “Salary” means remuneration paid in cash by an employer to a participant for creditable service performed in that position subject to coverage under the Cash Balance Benefit Program. Salary shall include: (1) Money paid in accordance with a publicly available written contract…

(a) “Salary,” for participants subject to the California Public Employees’ Pension Reform Act of 2013, means remuneration paid each pay period in cash by an employer to a participant for creditable service performed in that position subject to coverage under the Cash Balance Bene…

(a) “Spouse” means the person married to the participant on the date the participant files a beneficiary designation, or an application for a benefit, or on the date of the participant’s death. (b) Except as excluded in Sections 26004 and 27406, a person who is the registered dom…

“System” means the State Teachers’ Retirement System. (Added by Stats. 1995, Ch. 592, Sec. 16. Effective January 1, 1996.)