(a) The contributions of the California State University to the Public Employees’ Retirement Fund, as provided by § 20822 of the Government Code, shall be based on pensionable compensation and the rates set forth in the Budget Act, and shall be paid out of the California State University total appropriation in the annual Budget Act.

(b) Beginning in the 2013-14 fiscal year and each fiscal year thereafter, annual adjustments to the budget allocation for California State University pension contributions shall be based on the university’s actual 2013-14 fiscal year pensionable payroll, as identified by the Controller’s office, by funding source and state member categories, and the incremental change in the rates set forth in the annual Budget Act.

Terms Used In California Education Code 89762

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

(c) Budget adjustments under this section shall not be made for subsequent changes in payroll.

(d) Pension funding for the university shall be identified annually in the Budget Act.

(Added by Stats. 2013, Ch. 50, Sec. 5. (AB 94) Effective July 1, 2013.)

  Previous section
Next section  
 Article 4 Contents