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Legal Resources | Education Code |  EC  22156.2  

Present value factor   

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"Present value factor," for purposes of Section 22156.1, means an overall average rate based upon the demographics of members who recently retired under the Defined Benefit Program and regular interest that shall determine present value on the effective date of retirement.

(Added by Stats. 1999, Ch. 939, Sec. 19.)

Reference:

Education Code 22156.1