Statute · California Government Code

Cal. Gov't Code § 31899 — Internal Revenue Code County Compliance and Replacement Benefits Program

Cal. Gov't Code § 31899

Type: Statute
Source: California Government Code
Jurisdiction: California
Date: 2014-01-01
Current through: Nov 2, 2026 (California Legislative Counsel)

Citator

Cal. Gov't Code § 31899 — Internal Revenue Code County Compliance and Replacement Benefits Program is in force in the current edition of the Code, and nothing recorded condemns it.

(a) The purpose of this chapter is to ensure the federal tax-exempt status of the county employees’ retirement systems, to preserve the deferred treatment of federal income tax on public employer contributions to public employee pensions, and to ensure that members are provided with retirement and other related benefits that are commensurate, to the extent deemed reasonable, with the services rendered without violating the intent and purposes of Section 415 of the Internal Revenue Code.

(b) To achieve this purpose, this chapter incorporates certain pension payment limitations and elects the “grandfather” option in Section 415(b)(10) of the Internal Revenue Code. Also, this chapter provides for certain replacement benefits.