SECTIONS 12301-12307 - California Statutes

PUBLIC UTILITIES CODE

SECTION 12301-12307

12301. The board may establish a retirement system for the
officers, whether elective or appointive, or both, and employees of
the district and provide for the payment of annuities, pensions,
retirement allowances, disability payments, and death benefits, or
any of them.

12302. The district may maintain its own retirement fund or may
provide for benefits to eligible officers and employees, or their
beneficiaries, by means of group insurance or other insurance, or by
such means as in the opinion of the board will satisfactorily provide
an adequate and sure method of meeting the payments contemplated by
the retirement system.

12303. Before establishing any retirement system the board shall
secure a report from a qualified actuary, which shall show the cost
of the benefits provided by the system, and the prospective assets
and liabilities of the system.

12304. The board may adopt all ordinances and resolutions and
perform all acts necessary or convenient to the initiation,
maintenance, and administration of the retirement system.

12305. A district may make all or part of its officers, whether
elective or appointive, or both, and employees members of the Public
Employees' Retirement System by contract entered into between the
district and the board of administration of the system under the
Public Employees' Retirement Law (Part 3 (commencing with Section
20000) of Division 5 of Title 2 of the Government Code); and the
district may perform all acts necessary or convenient for that
participation.

12306. The board may classify and determine the officers, whether
elective or appointive, or both, and employees who shall be included
as members in the retirement system and may change the classification
from time to time. Membership of all officers and employees so
classified and included in the retirement system is compulsory.

12307. Notwithstanding any other provision of law, a participant in
a deferred compensation plan may also participate in the district's
retirement system, and, in ascertaining the amount of compensation of
such participant, for purposes of computing the amount of his
contributions or benefits under the district's retirement system, any
amount deducted from his wages pursuant to Section 12338 shall be
included.