SECTIONS 28890-28896 - California Statutes

PUBLIC UTILITIES CODE

SECTION 28890-28896

28890. The board may prescribe the terms and conditions upon which
the officers and employees of the district or their beneficiaries
shall be entitled to benefits and the amounts thereof.

28891. The retirement allowance may be predicated in part upon
service rendered the district by a member prior to the establishment
of the retirement system, which service is known as "prior service."

28892. The board shall provide that both the district and the
members shall contribute to the retirement system. The rate of
contribution by an officer or employee of the district becoming a
member of the retirement system shall be so fixed as to provide, with
accumulated interest and based on tables and assumptions adopted by
the board, substantially one-half the value of any retirement
allowance granted for service, exclusive of any credits allowed for
prior service.

28893. All members of the retirement system shall contribute in the
manner and amount fixed by the board and such contributions may be
collected by deducting the amounts thereof from the salary, wages, or
compensation due such members.

28894. Liabilities accruing under the retirement system because of
benefits other than such as are the equivalent of contributions by
the members, with accumulated interest, shall be met by contributions
by the district. Prior service or other liabilities of the district
may be met by annual appropriations instead of by appropriation for
the total of the liabilities; but until the present value of regular
contributions for current service, together with assets then
available, equals the present value of all allowances and benefits
granted or to be granted under the system, the appropriation for any
one year when added to any unused balance of any previous
appropriations for such purpose shall not be less than the amount
disbursed during that year on account of prior service or other
liabilities of the district.

28895. If any member withdraws from the retirement system prior to
retirement the total amount contributed by him with such interest as
may be credited thereto shall be returned to him; provided, however,
that the board may prescribe the terms and conditions upon which a
member, whose district service is terminated except by death or
retirement, may elect to leave his contributions and interest thereon
in the retirement fund, and the terms and conditions upon which a
retirement allowance may be made to him after such termination based
upon his contributions prior to such termination.

28896. All money received by any person as an annuity, pension,
retirement allowance, disability payment, or death benefit from the
retirement system, and all contributions and interest thereon
returned to any member of the retirement system, whether in the
actual possession of such person or deposited, loaned, or invested by
him, is exempt from execution or any other process except to the
extent permitted by Section 704.110 of the Code of Civil Procedure
and is unassignable.