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League Pension

League Pension

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Published by Jbrownie Heimes

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Published by: Jbrownie Heimes on Oct 31, 2012
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08/02/2013

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This measure prohibits all employers from suspending employer and/or employee contributions
necessary to fund annual pension normal costs. [Govt. Code Sect. 7522.52(a)]

Additionally, this new law allows a public retirement system to suspend contributions under limited
circumstances:

The plan is funded more than 120%;
The excess earnings could result in disqualification of plans tax deferred status; and,
The board finds that additional contributions would conflict with its fiduciary responsibility
[Govt. Code Sect. 7522.52 (b)(1)(2)(3)]

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