“Actuarial equivalent” means a benefit that has the same present value as the benefit it replaces based on interest rates and mortality tables recommended by the actuary and adopted by the board as a plan amendment.
Cal. Educ. Code § 26101
Definitions
Added by Stats. 1995, Ch. 592, Sec. 16
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.