reglab/statecodes huggingface dataset:
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 6 - 2013 Public Employees' Pension Reform Implementation › Section 579.24 - Final Compensation Calculations for Service Accrued Under PEPRA and the PERL

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 Retirement benefit provisions under PEPRA, including but not limited to
					 Government Code sections
					 7522.10,
					 7522.32,
					 and
					 7522.34,
					 require retirement benefits for new members to be calculated differently from
					 retirement benefits for classic members under the PERL. Therefore, it is
					 possible for a member to separately accrue service credit as a new member for
					 one period of service and as a classic member for another period of
					 service,
(b) Where a member has
					 accrued service credit as a classic member and separately accrues service
					 credit as a new member, each with a period of service resulting in a different
					 final compensation amount, CalPERS will apply one final compensation amount for
					 the service credit accrued as a classic member, and a second final compensation
					 amount for the service credit accrued as a new member. CalPERS will then use
					 both figures to calculate the total retirement benefit owed.
1. New
						section filed 8-12-2013; operative 8-12-2013 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2013, No. 33).
Note: Authority cited: Section
						  20121,
						  Government Code. Reference: Sections
						  7522.10,
						  7522.32
						  and
						  7522.34,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 6 - 2013 Public Employees' Pension Reform Implementation › Section 579.25 - Public Safety Officer Exception to the 180-Day Wait Period

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Government Code section
						7522.56(f)(4)
						includes a 180-day wait period between the retirement date and the start date
						of post-retirement employment. An exception to this wait period is provided for
						public safety officers. For purposes of implementing section
						7522.56(f)(4), the
						term "public safety officer" shall include all peace officers as identified in
						Government Code section
						3301.
1. New
						section filed 10-25-2013; operative 10-25-2013 pursuant to Government Code
						section
						11343.4(b)(3)
						(Register 2013, No. 43).
Note: Authority cited: Sections
						  7522.02,
						  20120,
						  20121,
						  20122,
						  20123 and
						  20124,
						  Government Code. Reference: Sections
						  3301 and
						  7522.56,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7 - Benefits › Section 580 - Dependency

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A person is receiving at least one-half of his support
						from a member if the member is making regular contributions in cash or kind to
						such support to the extent of one-half or more thereof.
(a) "Support," includes food, shelter,
					 clothing, ordinary medical expenses, and other ordinary and customary items of
					 maintenance of the persons supported at the standard of living in the
					 occupation or employment engaged in by the person supported while he was
					 employable. In determining support at the time of death, consideration may be
					 given to support during the year preceding death. To the extent that the person
					 supported and other persons derive support from a common fund or receive a
					 common item of support and expenditures cannot be identified as to person and
					 disproportionate support requirements are not shown, the person's support shall
					 be established by equal proration of the total expenditures between the
					 persons.
(b) A contribution made to
					 a fund to which several persons contribute and from which several members of a
					 family derive common support will be presumed made to the support of each
					 person deriving support from the fund in the proportion of such contribution to
					 the total contribution. Community funds of a member and a member's spouse
					 contributed to the support of the member's parent or parents will be considered
					 a contribution by the member to a maximum of the amount of community funds or
					 property considered the property of the member under this rule.
(c) Any person claiming a benefit as a
					 dependent parent shall file an affidavit or statement under penalty of perjury
					 concerning the income and support in such form or forms and in such detail as
					 may be required by the Executive Officer.
1.
						Amendment filed 8-5-76; effective thirtieth day thereafter (Register 76, No.
						32).
2. Editorial correction of Reference cite (Register 95, No.
						5).
Note: Authority cited: Section
						  20120,
						  Government Code. Reference: Sections
						  20041,
						  21263,
						  21263.4,
						  and
						  21382.2,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7 - Benefits › Section 580.1 - Full-Time Student-Educational Institution

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of any benefit payable to or because of a
						child who is a full-time student, a full-time student is one who is in
						full-time attendance at an educational institution if he is carrying a subject
						load which is considered full time for day students under the standards and
						practices of the educational institution. However, a student will not be
						considered in full-time attendance if:
A. He is enrolled in a junior college,
					 college, or university in a course of study of less than 13 school weeks'
					 duration; or
B. He is enrolled in
					 any other educational institution and either the course of study is less than
					 13 school weeks' duration or his scheduled attendance is at the rate of less
					 than 20 hours a week.
A high school, trade or vocational school, junior
						college, college or university is an "educational institution" if:
(a) It is operated or directly supported by
					 the United States, by a State or local government or a political subdivision
					 thereof; or
(b) It has been
					 approved by a State, or accredited by a State-recognized or
					 nationally-recognized accrediting agency; as determined by the Executive
					 Officer.
This definition includes both public and private schools
						which meet the requirements of (a) or (b) above.
Survivor benefits will be reduced or discontinued
						effective the month following loss of student status as determined under forms
						and procedures established by the Executive Officer.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7 - Benefits › Section 582 - Beneficiary Designations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A member may designate as beneficiary to receive any
						benefit payable to a member's designated beneficiary upon death before or after
						retirement, any person or persons, including a corporation; provided, however,
						that a beneficiary designated to receive payments under an optional settlement
						based on life contingency may be only a natural person. The designation must be
						in writing, except as otherwise provided in this section, must give the name of
						the person and his address, and must be filed in the office of the board in
						Sacramento, California. The right of a beneficiary to receive payment of a
						benefit is contingent on his survival at the time of the member's death, and
						the member may designate a beneficiary or beneficiaries on the contingency that
						the first beneficiary does not so qualify.
A member may, subject to the conditions set forth in this
						paragraph, designate as beneficiaries or contingent beneficiaries, other than a
						beneficiary to receive payment under an optional settlement based on life
						contingency of the beneficiary, his children or his grandchildren by class
						rather than by naming the individuals as otherwise required in this section.
						For purposes of such designation, "children" shall mean natural or adopted
						children and "grandchildren " shall mean natural or adopted children of the
						member's "children," and shall include such children or grandchildren in being
						at the time of the member's death or who are conceived before the member's
						death and born thereafter. Payments of a benefit by the system on the basis of
						a determination in good faith of the existence and identity of the members of a
						class so designated shall constitute a complete discharge and release of the
						system from further liability for the benefit, notwithstanding that it may not
						have discovered a beneficiary otherwise entitled.
1. New
						section filed 12-15-61; effective thirtieth day thereafter (Register 61, No.
						25).
2. Amendment filed 12-13-66; effective thirtieth day thereafter
						(Register 66, No. 44).
Note: Authority cited: Section
						  20120,
						  Government Code. Reference: Sections
						  20303,
						  20037,
						  21204 and
						  21205,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7 - Benefits › Section 585 - Retirement Optional Settlement 4

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For purposes of any request for a new
					 form of optional settlement 4 subject to the approval of the board, the request
					 must comply with applicable federal and state requirements and the following
					 administrative requirements. If staff determines a request for a new option 4
					 allowance type should be denied based upon administrative criteria, stall will
					 bring the request before the board to either approve or deny the request.
(1) There is no existing option or option 4
					 type that could be used to accomplish substantially the same results.
(2) Each beneficiary would receive a minimum
					 of 25% of the member's monthly allowance. This minimum would not apply in the
					 case of a community property interest.
(3) Each beneficiary is alive and named at
					 the time of the designation.
(4)
					 Upon the death of a beneficiary, there would be no continuing allowance to a
					 secondary or contingent beneficiary.
(5) Any proposed change in future allowance
					 payment to the retired annuitant or named beneficiary is based upon an easily
					 identifiable event, such as a specified date or death of the retired
					 annuitant.
(6) The requested
					 annuity is a combination of life annuities, joint life annuities (on no more
					 than two lives), a temporary life annuity, an annuity certain, or lump sums
					 payable upon the death of the member or a beneficiary.
(7) The total of all lump sums payable upon
					 death cannot exceed the amount of the member's contributions with interest at
					 the time of retirement.
(8) The
					 total amount (excluding lump sums payable upon death) payable in any month
					 cannot exceed three times the amount that would have been payable for that
					 month if the member had elected an unreduced allowance and was alive in the
					 month.
(9) It is reasonable to
					 expect that at least 100 members will elect the option within two years of the
					 date that the option first becomes available.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.5 - Normal Retirement Age and Bona Fide Separation in Service › Section 586 - Purpose

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The purpose of this Article is to ensure the federal
						tax-qualified status of the Public Employees' Retirement System by prohibiting
						in-service distributions to the extent required by the Internal Revenue Code,
						and the regulations promulgated thereunder. In the event the applicable federal
						law changes, the federal law shall supercede these
						regulations.
1. New
						article 7.5 (sections
						586-586.2) and section filed
						8-20-2004; operative 9-19-2004 (Register 2004, No.
						34).
Note: Authority cited: Sections
						  20121 and
						  21220.5,
						  Government Code. Reference: Section
						  21220.5,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.5 - Normal Retirement Age and Bona Fide Separation in Service › Section 586.1 - Normal Retirement Age

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The normal retirement age of a member
					 shall be the later of:
(1) the age when the
					 member is first eligible to retire pursuant to Article 1 through Article 5 of
					 Chapter 12, Part 3, Division 5 of Title 2 of the Government Code; or
(2) the highest specified age applicable to
					 the member in the benefit formula, not to exceed age 62, where the highest
					 specified age is defined as:
(A) 62 if the
					 member is entitled to benefits under Government Code sections
					 20176,
					 21076.5,
					 21100, or
					 7522.20;
(B) 60 if the member is entitled to benefits
					 under Government Code sections
					 21353 or
					 21354.3;
(C) 57 if the member is entitled to benfits
					 under Government Code section
					 7522.25;
(D) 55 if the member is entitled to benefits
					 under Government Code sections
					 21354,
					 21354.1,
					 21354.4,
					 21354.5,
					 21363,
					 21363.1,
					 21366,
					 21369,
					 21369.1,
					 or
					 21369.2;
					 and
(E) 50 if the member is
					 entitled to benefits under Government Code sections
					 21362,
					 21362.2,
					 21363.3,
					 21363.4 or
					 21363.8.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.5 - Normal Retirement Age and Bona Fide Separation in Service › Section 586.2 - Bona Fide Separation in Service

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For purposes of working for a
					 CalPERS-covered employer after retirement pursuant to Article 8, of Chapter 12,
					 Part 3, Division 5 of Title 2 of the Government Code, a member who has not
					 attained normal retirement age shall have a bona fide separation in service. A
					 bona fide separation in service is defined as:
(1) no predetermined agreement between the
					 employer and the member prior to retirement to return to work for the employer
					 after retirement; and
(2) a
					 separation in service of at least 60 calendar days between the date of the
					 member's retirement and the first day of work for the employer as a retired
					 person. The 60 days shall commence on the day after
					 retirement.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588 - Risk Pools-Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For purposes of this Article, a "Rate
					 Plan" consists of all CalPERS members for which a single employer contribution
					 rate is produced annually.
(b) For
					 purposes of this Article, a "Side Fund" shall be the difference between the
					 actuarial value of assets and the actuarial liabilities of the rate plan at the
					 time of joining a risk pool.
1. New
						article 7.6 (sections
						588-588.10) and section filed
						9-23-2004; operative 9-23-2004 pursuant to Government Code section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.1 - Risk Pools-Required Participation for Existing Contracting Agencies; Effective Date for Mandated Benefits for New and Existing Contracting Agencies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Following the creation of risk pools pursuant to Section
						20840 of
						the Government Code, any existing contracting agency with a rate plan of less
						than 100 active members on any annual actuarial valuation date shall be
						required to participate in a risk pool. Participation shall be effective as of
						that valuation date for all members of that rate plan, but no earlier than the
						June 30, 2003 actuarial valuation which will be used to set employer
						contribution rates for fiscal year 2005-2006. The effective date of a pool's
						mandated benefits pursuant to §
											20840 of
						the Government Code for contracting agencies who participate in a risk pool is
						the first day that the agency is required to pay for the mandated
						benefits.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
2. Amendment of section heading and section
						filed 9-14-2009; operative 10-14-2009 (Register 2009, No.
						38).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.2 - Risk Pools-Required Participation for New Contracting Agencies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A new contracting agency with CalPERS following the
						creation of risk pools shall be required to participate in a risk pool if the
						number of active members in the rate plan is less than 100 at the time of the
						initial actuarial valuation provided that the actuary determines such
						participation will not be unfavorable to other agencies in the pool. In the
						event that such participation would be unfavorable, the matter may be referred
						to the CalPERS Board for a hearing.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
2. Amendment filed 9-14-2009; operative
						10-14-2009 (Register 2009, No. 38).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.3 - Risk Pools-Optional Participation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A contracting agency with 100 or more active members on
						each annual valuation date after June 30, 2003 may, by amendment to its
						contract, participate in a risk pool provided that the actuary determines such
						participation will not be unfavorable to other agencies in the pool. In the
						event that such participation would be unfavorable, the matter may be referred
						to the CalPERS Board for a hearing.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.4 - Risk Pools-County Offices of Education, School Districts and Community College Districts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Notwithstanding Section
						588.1, county offices of education,
						school districts and community college districts shall not be required to
						participate in a risk pool. County offices of education, school districts and
						community college districts shall only be allowed to establish a contract with
						CalPERS to participate in a risk pool if the service retirement formula of the
						risk pool provides higher factors at all ages than the service retirement
						formula applicable to school members.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.5 - Risk Pools-Amortization of Side Funds

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The side fund shall be amortized at the actuarially
						assumed investment return. All investment gains and losses on the side fund
						that exceed or fall below the actuarially assumed investment return shall be
						attributed to the risk pool.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.6 - Risk Pools-Assignment to Risk Pools

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A rate plan participating in a risk pool shall be
						assigned to one of the risk pools based on the service retirement formula
						applicable to its active members.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.7 - Risk Pools-Leaving and Transferring Between Risk Pools

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any contracting agency participating in a risk pool shall
						be allowed to transfer the assets and actuarial liabilities of its rate plan
						into another risk pool by contracting for a service retirement formula offered
						by the other risk pool. For this purpose, the assets to be transferred shall be
						the pro-rata share of the current pool's net assets (net of all side funds)
						plus the rate plan's remaining side fund, as determined by the actuary.
						Following the transfer to the new pool, a new side fund shall be established
						equal to the difference between the assets brought into the new pool and the
						product of the actuarial liabilities of the rate plan under the new service
						retirement formula and the net funded ratio of the new pool as determined by
						the actuary. A contracting agency shall not be allowed to terminate its
						participation in a risk pool, unless the agency's contract is terminated
						pursuant to Sections
						20570,
						20571, or
						20572 of
						the Government Code. Upon termination of the contract, the affected members
						shall become part of the terminated agency pool pursuant to Section
						20578 of
						the Government Code.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.8 - Risk Pools-Classification of Benefit Provisions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The CalPERS Board shall separate the benefit provisions
						available to a contracting agency into various classifications. These
						classifications will be handled as follows:
(a) Class 1 benefits may vary by rate plan
					 within each risk pool. Agencies contracting for a Class 1 benefit will be
					 responsible for the past service liability associated with such benefit and
					 will be required to pay a surcharge established by the actuary to cover the
					 ongoing cost (normal cost) of the Class 1 benefit. Class 1 benefits shall be
					 the optional benefits meeting the following criteria:
(i) Impact the ongoing cost (either total or
					 employer normal cost) of the risk pool by more than 0.25% of payroll;
					 or
(ii) The benefit is not
					 available to all plans participating in the risk pool.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.9 - Risk Pools-Merger of Risk Pools

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In the event that the number of contracting agencies
						participating in a risk pool is determined by the actuary to be too small to
						reduce the volatility in employer contribution rates caused by unexpected
						demographic events, the risk pool will be merged with another risk pool
						identified by the actuary.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 7.6 - Participation in Risk Pools › Section 588.10 - Risk Pools-Superfunded Status

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For employers participating in a risk pool, the actuary
						shall determine on an annual basis whether or not the employer's rate plan is
						superfunded pursuant to Section
						20816 of
						the Government Code. In determining whether the rate plan is superfunded, the
						actuary shall use assets equal to the pro-rata share of the current pool's net
						assets plus the plan's remaining side fund. Superfunded plans may cover its
						employees' normal member contributions using its employer assets. Such
						transaction will be tracked through the rate plan's individual side
						fund.
1. New
						section filed 9-23-2004; operative 9-23-2004 pursuant to Government Code
						section
						11343.4
						(Register 2004, No. 39).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  20840,
						  Government Code. Reference: Section
						  20840,
						  Government Code.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589 - Establishment and Status of Plan

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Establishment.
(1) There is hereby established and adopted a
					 retirement plan entitled the California Public Employees' Retirement System
					 Replacement Benefits Plan (the "Plan") to restore the annual retirement
					 benefits otherwise earned by Members of CalPERS but which are limited by the
					 rules of Section
					 415 of the Internal Revenue Code of
					 1986, as amended ("Tax Code"). CalPERS is a tax qualified plan under Section
					 401(a) of the Tax
					 Code and is a governmental plan as defined in Section
					 414(d) of the Tax
					 Code.
(2) This Plan is established
					 pursuant to the provisions of Section
					 401(m) of the Tax
					 Code and Section
					 21757 of
					 the Government Code. This Plan constitutes the regulations that implement Part
					 3.4 of the Government Code, as provided in Section
					 21760 thereof.
(3) The state, each school employer, and each
					 contracting agency is deemed to have elected to contract with the Board of
					 CalPERS for administration of this Plan, pursuant to Government Code Section
					 21761.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.1 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Plan
					 Definitions--Terms used in this Plan shall have the meaning set out below:
(1) "Board" means the CalPERS Board of
					 Administration.
(2) "CalPERS" means
					 the California Public Employees' Retirement System.
(3) "Commencement Date" means the date of
					 commencement of participation in this Plan as set out in Subsection
					 589.2(b)
					 hereof.
(4) "Effective Date" means
					 January 1, 1999.
(5) "Government
					 Code" means the California Government Code.
(6) "HI Taxes" means federal hospital
					 insurance taxes.
(7) "Member" means
					 person who has qualified for membership in the California Public Employees
					 Retirement System and on whose behalf an employer has become obligated to pay
					 contributions to such System
(8)
					 "OASDI" Taxes means federal old age, survivor and disability insurance
					 taxes.
(9) "Other Recipient" means
					 any recipient of benefits from CalPERS other than the Participant, such as a
					 beneficiary, spouse, former spouse, eligible survivor, surviving parent,
					 surviving child, or other recipient of benefits payable from CalPERS.
(10) "Participant" means a CalPERS Member who
					 participates in this Plan pursuant to Section
					 589.2 hereof.
(11) "PERF" means the Public Employees'
					 Retirement Fund as established under Government Code Section
					 20170.
(12) "Plan" means this California Public
					 Employees' Retirement System Replacement Benefits Plan.
(13) "Plan Administrator" means the
					 Board.
(14) "Plan Year" means the
					 12-month period beginning on July 1 and ending on June 30.
(15) "Replacement Benefit Custodial Fund"
					 means the fund established pursuant to Government Code Section
					 21758,
					 which is separate and apart from the PERF and any other CalPERS retirement
					 trust fund and which is established to collect, hold and disburse funds to
					 provide benefits under the Plan.
(16) "Recommencement Date" means the date of
					 recommencement of participation in this Plan as set out in Subsection
					 589.2(d)
					 hereof.
(17) "Section
					 415" means Section
					 415 of the Tax Code.
(18) "Tax Code" means the Internal Revenue
					 Code of 1986, as amended, and any rules and regulations issued
					 thereunder.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.2 - Participation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) CalPERS Members
					 With Benefits Limited by Section
					 415 --Participation in this Plan is
					 limited solely to those CalPERS Members or Other Recipients whose benefits
					 earned or payable under CalPERS are limited by Section
					 415 for periods on and after the
					 Effective Date.
(b) Commencement of
					 Participation--Participation in this Plan shall commence on the first date (on
					 or after the Effective Date) with respect to which benefits payable to the
					 Member from CalPERS are limited by Section
					 415. This date is the Commencement
					 Date.
(c) Cessation of
					 Participation--Participation in this Plan shall cease as of the first date for
					 which benefits payable to the CalPERS Member or Other Recipient are no longer
					 limited by Section
					 415.
(d) Re-commencement of Participation.
(1) If any Participant has ceased
					 participation in this Plan but at a later date his or her CalPERS benefits
					 payable are again limited by Section
					 415, he or she shall again commence
					 participation as provided in Subsection
					 589.2(b) hereof
					 and shall cease participation as provided in Subsection
					 589.2(c)
					 hereof.
(2) If a Participant's
					 CalPERS benefits stop, then he or she shall cease participation in this Plan
					 and his or her benefits shall stop under this Plan. He or she shall again
					 commence participation as provided in Subsection
					 589.2(b) hereof
					 and shall cease participation as provided in Subsection
					 589.2(c)
					 hereof.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.3 - Retirement Benefits

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 Benefits Contingent on Funding--No benefits shall accrue under this Plan to any
					 Participant or Other Recipient unless and until the state, the school employer,
					 or the contracting agency, as appropriate, has paid to CalPERS the amount that
					 CalPERS has invoiced the state, school employer, contracting agency or
					 Participant for the benefits payable, as provided in Sections
					 589.4 and
					 589.5 hereof.
(b) Amount of Benefit--Initial Determination.
The benefit payable under this Plan shall be initially
						determined for each Participant at the Participant's Commencement Date under
						the following steps:
(1) Calculate the
					 Participant's benefit payable under CalPERS at the time of the Commencement
					 Date without regard to the limits of Section
					 415 and after taking into account
					 the form of CalPERS benefit selected by the Participant.
(2) Determine the amount of the Participant's
					 CalPERS benefits (if any) attributable to after tax Member contributions and
					 attributable to rollover contributions at the Commencement Date after taking
					 into account the form of CalPERS benefit selected by the Participant.
(3) Subtract the amount determined in (2)
					 from the amount calculated under (1); this is the amount subject to the Section
					 415 limits and therefore subject to
					 Section 415 testing.
(4) Determine the maximum benefits payable to
					 the Participant from CalPERS under the then current benefit payment limits of
					 Section 415, ignoring any benefits that may
					 be attributable to after tax Member contributions or rollover Member
					 contributions. This determination shall take into account the applicable dollar
					 limits, and the form of benefit payment chosen. The limits may differ based on
					 other factors such as whether the Participant qualifies for the special safety
					 member limits under Section
					 415 and when he or she first became
					 a CalPERS Member.
(5) Subtract the
					 amount determined under (4) from the amount determined under (3). If the amount
					 in (3) is greater than that in (4), the difference is the initial benefit
					 payable under this Plan. If the amount in (4) is equal to or greater than the
					 amount in (3), then no benefits are payable under this Plan.
(6) Section
					 415 establishes annual benefit
					 limits and therefore, the amount of the initial benefit to be paid under this
					 Plan that is determined under (4) is an annual benefit. For payment under this
					 Plan, however, the amount of such initial benefit shall be converted to equal
					 quarterly amounts.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.4 - Funding

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Employer
					 Contributions Required--The state, each applicable school employer, and each
					 applicable contracting agency shall make contributions to this Plan in amounts
					 to be fixed and determined by the Board. The Board shall have sole authority
					 and discretion to determine the amount of contributions that must be paid to
					 this Plan by the state, each applicable school employer, and each applicable
					 contracting agency. The Board shall make such determination after receiving
					 advice on such contributions from the Chief Actuary of CalPERS.
(b) Employer Contribution Amount.
(1) The amount of each employer's
					 contributions to this Plan shall be equal to the amount of estimated benefits
					 payable from this Plan for the applicable calendar year for applicable
					 Participants and/or Other Recipients.
(2) The Board may require payment of
					 additional contributions or other amounts owed to this Plan from one or more
					 applicable employers during the applicable calendar year as is necessary to
					 provide benefits under this Plan.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.5 - Taxes

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Tax
					 Withholding--The Plan Administrator shall have full authority to determine and
					 withhold any and all taxes that are or may be due from all amounts contributed
					 or paid under the Plan (including but not limited to income and payroll taxes),
					 to pay them to the appropriate government agency, and to file and distribute
					 necessary or appropriate tax reports and forms.
(b) Agent for Paying Taxes--The state, each
					 affected school employer, and each affected contracting agency hereby designate
					 the Plan Administrator as its agent for purposes of paying taxes and filing
					 such forms and returns as are required by the Internal Revenue Service and any
					 other tax agency with respect to benefits paid from this plan. The state, each
					 affected school employer, and each affected contracting agency shall execute
					 and file such forms and other documents as are deemed necessary or appropriate
					 by the Plan Administrator in connection with this designation.
(c) Payment of OASDI and HI Taxes by
					 Employers, Participants and Other Recipients.
(1) The state, applicable school employers,
					 applicable contracting agencies, Participants and Other Recipients shall
					 promptly pay to the Plan Administrator amounts equal to such OASDI and HI Taxes
					 that the Plan Administrator determines are due from them with respect to
					 benefits paid from this Plan. Amounts paid under this Subsection
					 589.5(c)(1) shall
					 be held in a special tax escrow account until paid and shall not be held in the
					 Replacement Benefit Custodial Fund.
(2) The Plan Administrator shall determine
					 the amount of OASDI and HI taxes due with respect to any Participant or Other
					 Recipient pursuant to applicable Treasury Regulations, and shall do the
					 following:
(A) invoice the state, the school
					 employer, or contracting agency, as appropriate, for the full amount of the
					 employer taxes due on benefits payable with respect to applicable Participants
					 and Other Recipients from this Plan,
(B) collect the employer OASDI and HI Taxes
					 due from such employer prior to the payment of any benefits under this Plan to
					 the Participant or Other Recipient,
(C) collect the employee taxes due from the
					 Participant or Other Recipient from benefits payable from this Plan prior to
					 payment of any such benefits, and
(D) as agent of the state, school employer,
					 or contracting agency, pay such taxes and file such forms and returns as
					 directed by the Internal Revenue Service.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.6 - Exemption from Process; Assignments Prohibited

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Benefit Not Subject to Execution, Process
					 or Assignment--The right of a person to any benefit or other right under this
					 Plan and any money that is set aside to pay such benefits are not subject to
					 execution or any process whatsoever except to the extent permitted by Section
					 704.110
					 of the Code of Civil Procedure, and are unassignable, except as specifically
					 provided in this Plan.
(b) Marital
					 Dissolution or Legal Separation.
(1) The
					 provisions of Subsection
					 589.6(a) will not
					 apply in the case of any property settlements upon marital dissolution or legal
					 separation which are made in accordance with a domestic relations order (DRO)
					 issued in accordance with state domestic relations law.
(2) If the community property is divided upon
					 the marital dissolution or legal separation of a Member, then the provisions of
					 Sections
					 21290
					 through
					 21298 of
					 the Government Code shall apply to this Plan in the same manner as they apply
					 to CalPERS.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.7 - Administration

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Administration
					 by the Board.
(1) The management and control
					 of this Plan is vested in the Board.
(2) This Plan shall be administered by the
					 Board in conformity with its powers and duties set forth in the Government Code
					 commencing with Section
					 20000, including but not limited to
					 all powers and duties set forth in Chapter 2 of Part 3 of the Government
					 Code.
(3) For determining the
					 administrative powers and responsibilities of the Board, the term "Replacement
					 Benefit Custodial Fund" shall replace reference to the "Public Employees'
					 Retirement Fund" in Article 5 of Chapter 2 of Part 3 of the Government Code.
					 The Board has the exclusive control of the administration and investment of the
					 Replacement Benefit Custodial Fund.
California Code of Regulations › Title 2 - Administration › Division 1 - Administrative Personnel › Chapter 2 - Board of Administration of Public Employees' Retirement System › Subchapter 1 - Employees' Retirement System Regulations › Article 8 - Replacement Benefits Plan › Section 589.8 - Source of Benefits

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 Replacement Benefit Custodial Fund--All benefits payable under this Plan shall
					 be paid solely from the Replacement Benefits Custodial Fund.
(b) No Employee Deferrals--No employee
					 contributions or deferrals shall be made or allowed under the Plan at any time.
					 In accordance with Section
					 415(m), no
					 election to defer compensation under this Plan shall be provided, at any time
					 or in any manner, to any person.
(c) No Use of CalPERS Assets--Except as
					 specifically allowed by governing federal and state law (including but not
					 limited to governing federal and state tax laws), assets used to provide
					 benefits under this Plan shall not be commingled with the monies of the PERF or
					 any other CalPERS retirement trust fund or any other qualified plans, nor shall
					 this Plan ever receive or use any assets of the PERF.
1. New
						section filed 1-25-2001; operative 1-25-2001 pursuant to Government Code
						section
						11343.4(c).
						Submitted to OAL for printing only (Register 2001, No.
						4).
Note: Authority cited: Sections
						  20120,
						  20121 and
						  21760,
						  Government Code. Reference: Section
						  21757,
						  Government Code.