§ 26104 Cash Balance Program Costs

• •This law talks about the costs to run a special money program called the Cash Balance Benefit Program.
• •The people in charge (the board) decide how much it costs to run this program each year.
• •These costs are called 'administrative costs'.

Imagine your school has a special savings program for teachers.

The school board figures out how much money is needed each year to keep this program running, like paying people to manage it or for paperwork. This is what the law calls 'administrative costs'.