Discontinuation of Plan

Cal. EDC § 28101

California Statutes

(

a) Upon discontinuation of the Cash Balance Benefit Program by the employer, the system will hold the employee and employer accounts for the benefit of the participant. The participant is immediately vested in both employee and employer accounts including accrued interest. (

b) Both employee and employer accounts will continue to be credited with interest at the minimum interest rate so long as there is an undistributed balance in such accounts.

Document details

CollectionCalifornia Statutes
CitationCal. EDC § 28101
Date1999-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierEDC28101.1998104851

Discontinuation of Plan

Cal. EDC § 28101

California Statutes

Discontinuation of Plan

Cal. EDC § 28101

California Statutes

(

a) Upon discontinuation of the Cash Balance Benefit Program by the employer, the system will hold the employee and employer accounts for the benefit of the participant. The participant is immediately vested in both employee and employer accounts including accrued interest. (

b) Both employee and employer accounts will continue to be credited with interest at the minimum interest rate so long as there is an undistributed balance in such accounts.

Document details

CollectionCalifornia Statutes
CitationCal. EDC § 28101
Date1999-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierEDC28101.1998104851