Agreement and Election to Prefund Other Post-employment Benefits - California

Agreement and Election to Prefund Other Post-employment Benefits is a legal document that was released by the California Public Employees' Retirement System - a government authority operating within California.

FAQ

Q: What is the Agreement and Election to Prefund Other Post-employment Benefits in California?
A: It is a document related to pre-funding of other post-employment benefits.

Q: What are other post-employment benefits?
A: Other post-employment benefits refer to benefits provided to employees after their retirement or employment termination, such as healthcare or life insurance.

Q: Why is pre-funding other post-employment benefits important?
A: Pre-funding other post-employment benefits helps ensure there are sufficient funds to provide these benefits to retired or terminated employees.

Q: Who is involved in the Agreement and Election to Prefund Other Post-employment Benefits?
A: The agreement is typically between an employer and the employees or their representatives.

Q: What does the agreement entail?
A: The agreement outlines the terms and conditions for prefunding other post-employment benefits, including the amounts to be contributed and the investment strategies to be used.

Q: Is the Agreement and Election to Prefund Other Post-employment Benefits mandatory in California?
A: No, it is not mandatory, but it can be a beneficial option for employers to ensure the financial sustainability of providing other post-employment benefits.