§ 22117 Additional Service Credit Contribution Rate

• •This law is about how much extra money you need to pay if you want to add more time to your retirement plan.
• •The amount you pay is decided by the people in charge of the retirement plan.
• •They look at how much money the plan has and then decide the extra cost.
• •If the plan needs more money later, the extra cost might go up.

Imagine you work for a company and want to add an extra year to your retirement plan to get more money when you retire.

The company will tell you how much extra you need to pay for that year. They decide this by checking how much money the retirement plan has. If the plan needs more money later, the extra cost for adding years might increase.