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Chapter 2. Definitions of California Government Code >> Division 5. >> Title 2. >> Part 7. >> Chapter 2.
"Account" means the account maintained with respect to
the participant which reflects that aggregate value of the following
amounts credited to the participant:
(a) Employee contributions to the plan.
(b) Employer contributions to the plan on behalf of the participant.
(c) Net earnings of the State Peace Officers' and Firefighters' Defined Contribution Plan Fund allocable to the participant.
(d) Any amount credited to the participant's account by reason of a transfer from another qualified plan in accordance with applicable federal tax laws.
(a) Employee contributions to the plan.
(b) Employer contributions to the plan on behalf of the participant.
(c) Net earnings of the State Peace Officers' and Firefighters' Defined Contribution Plan Fund allocable to the participant.
(d) Any amount credited to the participant's account by reason of a transfer from another qualified plan in accordance with applicable federal tax laws.
"Beneficiary" means any person or persons designated by
the participant pursuant to this part, or otherwise entitled by
statute, to receive distributions from the participant's account upon
the death of the participant.
"Board" means the Board of Administration of the
California Public Employees' Retirement System.
"Compensation" means the total amount paid to an employee
for a plan year as required to be reported on the employee's
Internal Revenue Service form W-2 for income tax withholding
purposes. This amount shall include employee contributions picked up
by the employer under Section 414(h)(2) of Title 26 of the United
States Code; and any amounts deducted by the employer from the
participant's salary, including deductions for tax-deferred
retirement plans or insurance programs; deductions for participation
in an eligible deferred compensation plan within the meaning of
Section 457 of Title 26 of the United States Code; and deductions for
participation in a plan that meets the requirements of Section 125
or 401(k) of Title 26 of the United States Code.
"Disability" means a disability as determined by the
board pursuant to Section 21156.
"Eligible employee" means any person employed by the
state, whose compensation is paid out of funds directly controlled by
the state, and who is subject to coverage by the plan pursuant to
the provisions of Section 22960.
"Employee contribution" means the amount withheld from
the participant's compensation by the employer as a contribution to
the participant's account in the plan.
"Employee contribution rate" means the percentage of the
participant's compensation to be withheld by the employer as an
employee contribution to the plan.
"Employer" means the State of California.
"Employer contribution" means the amount contributed by
the employer to the participant's account in the plan.
"Employer contribution rate" means the percentage of the
participant's compensation to be contributed by the employer to the
participant's account in the plan.
"Fund" means the State Peace Officers' and Firefighters'
defined Contribution Plan Fund.
"Net earnings" means the income earned, or losses
incurred, on the State Peace Officers' and Firefighters' Defined
Contribution Plan Fund, less the costs of administering the plan.
"Normal retirement age" means the age at which the
participant is eligible for a retirement benefit without special
qualifications and is the age of 50 years under this plan.
"Participant" means an employee who is subject to
coverage by the plan, and who has contributions credited under the
plan.
"Plan" means the State Peace Officers' and Firefighters'
Defined Contribution Plan.
"Plan year" means the 12-month period commencing on any
January 1 and ending on the following December 31.
"Retirement" means termination of all employment for the
employer and completion of all conditions precedent to receiving a
distribution for retirement.
"Spouse" means the person married to the participant on
the date the participant files a beneficiary designation, or an
application for a distribution from the plan, or on the date of the
participant's death.
"State peace officers and firefighters" means those
persons included in the definition of "state peace
officer/firefighter member" pursuant to Article 3 (commencing with
Section 20390) of Chapter 4 of Part 3.
"System" means the Public Employees' Retirement System.
"Termination" means termination of employment by reason
of separation from all service for the employer.
"Valuation date" means the date as of which the assets of
the fund are valued.
