For purposes of this chapter, the following definitions shall apply: (a) âParticipating employerâ means an employer that is authorized and has elected to participate in the prefunding plan. (b) âPrefunding planâ means the California Employersâ Pension Prefunding Trust Fund, a trust fund administered by the board, for the purpose of investing employer payments toward their required pension contributions to a defined benefit pension plan and that is intended to meet the requirements of Section 115 of the Internal Revenue Code. (c) âRequired pension contributionsâ means future contributions to a defined benefit pension plan required to fund the present value of plan benefits, calculated in compliance with Actuarial Standards of Practice of the American Academy of Actuaries.
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