Each participating employer shall pay an amount, not to exceed the reasonable administrative costs, as determined by the board, for administrative and asset management of the prefunding plan established by this chapter. The board shall deposit to the credit of the California Employers’ Pension Prefunding Trust Fund all amounts received by the board for those administrative and asset management costs.
(Added by Stats. 2018, Ch. 665, Sec. 1. (SB 1413) Effective January 1, 2019.)