§ 99272 Private Pension Plan Requirements

• •If a company has a private pension plan, they must follow these rules to get money from the state starting July 1, 1976.
• •The company must check their pension plan regularly to figure out how much money they need to pay future pensions.
• •The company must save and invest enough money now to pay for those future pensions.

A company called 'SafeDrive' has a pension plan for its workers.

SafeDrive must check their pension plan every few years to see how much money they need to pay pensions later. They also must save and invest enough money now to make sure they can pay those pensions when workers retire. If they don’t do this, they won’t get money from the state.