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§ 5501.2. Definitions

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 71 Pa.C.S.A. State GovernmentEffective: November 23, 2010

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 71 Pa.C.S.A. State Government (Refs & Annos)
Part XXV. Retirement for State Employees and Officers (Refs & Annos)
Chapter 55. Contributions (Refs & Annos)
Effective: November 23, 2010
71 Pa.C.S.A. § 5501.2
§ 5501.2. Definitions
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
“Actuarially required contribution rate.” The employer contribution rate as calculated pursuant to section 5508(a), (b), (c), (e) and (f) (relating to actuarial cost method).
“Costs added by legislation.” The sum, if positive, of all changes in the actuarially required contribution rate resulting from legislation enacted in the year since the last actuarial valuation and not included in the determination of the prior year's final contribution rate, computed as the rate of total compensation of all active members certified by the actuary as sufficient to make the employer normal contributions and sufficient to amortize legislatively created changes in the unfunded actuarial liability in equal dollar annual installments over a period of ten years from the July 1 following the valuation date.

Credits

2010, Nov. 23, P.L. 1269, No. 120, § 8, imd. effective.
71 Pa.C.S.A. § 5501.2, PA ST 71 Pa.C.S.A. § 5501.2
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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