§ 26213 Cash Balance Program Actuarial Rules

• •The board must set up rules and numbers to run the Cash Balance Benefit Program.
• •These rules include things like how much money goes into the program and how it grows over time.
• •The rules are part of the plan and can be changed if needed.
• •This law started on January 1, 1999.

Imagine you have a piggy bank where you save money for when you're older.

The board decides how much money you and your boss put into the piggy bank each month and how much extra money it can earn while sitting there. They write down these rules so everyone knows how the piggy bank works.