Skip to main content
Find a Lawyer

California Code, Education Code - EDC § 22950.6

Current as of January 01, 2025 | Updated by Findlaw Staff

The Legislature hereby appropriates two billion two hundred forty-six million dollars ($2,246,000,000) from the General Fund for the 2018-19 fiscal year to be transferred to the Teachers' Retirement Fund for the Defined Benefit Program, consistent with the requirements of this section and at the direction of the Department of Finance.  The Department of Finance shall provide the Controller a schedule establishing the timing of specific transfers to be used for these payments.  The payment to the Teachers' Retirement Fund shall be apportioned as follows:

(a) A dollar amount to pay in advance, on behalf of employers, part of the contributions required by employers for the 2019-20 fiscal year, such that it will result in employers having to contribute 1.03 percentage points less in the 2019-20 fiscal year than the percentage set by paragraph (6) of subdivision (a) of Section 22950.5.

(b) A dollar amount to pay in advance, on behalf of employers, part of the contributions required by employers for the 2020-21 fiscal year, such that it will result in employers having to contribute 2.95 percentage points less in the 2020-21 fiscal year than the percentage set by paragraph (7) of subdivision (a) of Section 22950.5.

(c) A dollar amount to pay in advance, on behalf of employers, part of the contributions required by employers for the 2021-22 fiscal year, such that it will result in employers having to contribute 2.18 percentage points less in the 2021-22 fiscal year than the percentage set by the board pursuant to subdivision (b) of Section 22950.5.

(d) Any remainder of the payment that has not been committed to the purposes specified in subdivisions (a), (b), and (c) shall be allocated to reduce the employers' share of the unfunded actuarial obligation determined pursuant to Section 22950.5.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - California Code, Education Code - EDC § 22950.6 - last updated January 01, 2025 | https://codes.findlaw.com/ca/education-code/edc-sect-22950-6/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard