SECTIONS 45341-45345 - California Statutes

GOVERNMENT CODE

SECTION 45341-45345

45341. The legislative body may establish a pension plan and
provide retirement and death benefits for city employees in order to
effect economy and efficiency in the public service and provide a
means by which employees who become superannuated or otherwise
incapacitated may, without hardship or prejudice, be replaced by more
capable employees.

45342. Any pension or retirement system adopted shall be on a sound
actuarial basis and provide for contributions by both the city and
the employee members of the system which shall be based on
percentages of pay roll to be changed only by adjustments on account
of experience under the system.

45343. Contributions shall be in amounts which will accumulate at
retirement a fund sufficient to carry out the promise to pay benefits
to the individual on account of his service as a member of the
system, without further contributions from any source.

45344. Benefits based on service rendered prior to membership in
the system shall be met by additional contributions of the employer.
Such prior service liability may be funded over a fixed period of
years.

45345. As an alternate method of providing a retirement system, the
city may contract with the Board of Administration of the State
Employees' Retirement System and enter all or any portion of its
employees under such system pursuant to law and under the terms and
conditions of such contract.