1. (a) For all plans approved or contracted for under this part, there shall be established a Public Employees' Contingency Reserve Fund in accordance with Section 22910 of the Public Employees' Medical and Hospital Care Act.
2. (b) Contribution shall be made by the employers during each calendar year to the Public Employees' Contingency Reserve Fund on account of each approved or contracted plan, in the amount authorized by law.
3. (c) The contributions made to the Contingency Reserve Fund in (b), above, shall not be used for administrative expense purposes. They may be utilized to defray increases in future rates, to reduce the contributions of employees and annuitants and the employers, or to increase the benefits provided by any plan to the extent that amounts in the Fund are derived from that plan, upon determination by the Board.

Note: Authority cited: Sections 22796, 22800 and 22831, Government Code. Reference: Sections 22870, 22885, 22890, 22901, 22910 and 22913, Government Code.

History

1. Amendment filed 7-31-68 as an emergency; effective upon filing (Register 68, No. 29). For prior history, see Register 65, No. 20.

2. Certificate of Compliance--Section 11422.1, Gov. Code, filed 11-27-68 (Register 68, No. 45).

3. Amendment of subsection (a), (b), (d)(1) and (d)(3) filed 6-15-79; designated effective 8-1-79 (Register 79, No. 24).

4. Amendment filed 6-27-80; designated effective 8-1-80 (Register 80, No. 26).

5. Amendment filed 6-9-86; effective thirtieth day thereafter (Register 86, No. 24).

6. Change without regulatory effect amending subsection (a) and Note filed 10-31-2006 pursuant to section 100, title 1, California Code of Regulations (Register 2006, No. 44).