Section 20163 Of Article 4. Correction Of Errors And Omissions From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 2. >> Article 4.
20163
. (a) If more or less than the correct amount of contribution
required of members, the state, or any contracting agency, is paid,
proper adjustment shall be made in connection with subsequent
payments, or the adjustments may be made by direct cash payments
between the member, state, or contracting agency concerned and the
board or by adjustment of the employer's rate of contribution.
Adjustments to correct any other errors in payments to or by the
board, including adjustments of contributions, with interest, that
are found to be erroneous as the result of corrections of dates of
birth, may be made in the same manner. Adjustments to correct
overpayment of a retirement allowance may also be made by adjusting
the allowance so that the retired person or the retired person and
his or her beneficiary, as the case may be, will receive the
actuarial equivalent of the allowance to which the member is
entitled. Losses or gains resulting from error in amounts within the
limits set by the California Victim Compensation and Government
Claims Board for automatic writeoff, and losses or gains in greater
amounts specifically approved for writeoff by the California Victim
Compensation and Government Claims Board, shall be debited or
credited, as the case may be, to the reserve against deficiencies in
interest earned in other years, losses under investments, and other
contingencies.
(b) No adjustment shall be made because less than the correct
amount of normal contributions was paid by a member if the board
finds that the error was not known to the member and was not the
result of erroneous information provided by him or her to this system
or to his or her employer. The failure to adjust shall not preclude
action under Section 20160 correcting the date upon which the person
became a member.
(c) The actuarial equivalent under this section shall be computed
on the basis of the mortality tables and actuarial interest rate in
effect under this system on December 1, 1970, for retirements
effective through December 31, 1979. Commencing with retirements
effective January 1, 1980, and at corresponding 10-year intervals
thereafter, or more frequently at the board's discretion, the board
shall change the basis for calculating actuarial equivalents under
this article to agree with the interest rate and mortality tables in
effect at the commencement of each 10-year or succeeding interval.