§ 26135 Cash Balance Plan Year

• •A 'plan year' is the time period (like a calendar year) used to keep track of records for the Cash Balance Benefit Program.
• •The people in charge (the board) decide what the plan year is by making changes to the plan.
• •This rule was updated in 1999 and started being used in the year 2000.

Imagine your school has a special savings program for teachers. The school decides to keep track of the money from July to June instead of January to December.

The school board picks July to June as the 'plan year' for the savings program. This means all the records and calculations for the program are based on this time period.