Actuarial equivalent.
San José Municipal Code § 3.36.1466
in effect3.36.1466 - Actuarial equivalent.
For the purposes of this part, "actuarial equivalent" means a benefit of equal value when computed upon the basis of the interest rate, inflation rate and annuity tables and other relevant assumptions on the most recent actuarial valuation and adopted by resolution of the board upon the advice of the board's actuary provided that such interest rate, inflation rate, and annuity tables and other relevant assumptions comport with reasonable standards applicable to governmental retirement plans. For purposes of this section, the most recent actuarial valuation shall be the valuation performed as of June 30th in the calendar year prior to the effective date of the actuarial equivalence calculation.
(Ords. 24170, 27712, 29879.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.361961POFIDEREPL_PT9.5OPSE_3.36.1466ACEQFetched: 11/1/2026