SECTIONS 30400-30406 - California Statutes

PUBLIC UTILITIES CODE

SECTION 30400-30406

30400. The board may establish a retirement system for the officers
and employees of the district and provide for the payment of
annuities, pensions, retirement allowances, disability payments, and
death benefits or any of them.

30401. 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.

30402. 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.

30403. 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.

30404. As an alternative method of providing a retirement system
the board may contract with the Board of Administration of the Public
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, or may contract with the Board of
Administration of the Public Employees' Retirement System for
reciprocal benefits between the Public Employees' System, or a city,
or city and county, or any other public agency contracting with the
Public Employees' Retirement System and the district's retirement
system as authorized by Section 20042 of the Government Code, and may
perform all acts necessary or convenient to provide for such
reciprocal benefits.

30405. The board may also contract with the Board of Administration
of the State Employees' Retirement System for participation in the
Federal Social Security Act and may perform all acts necessary or
convenient for such participation.

30406. The board may classify and determine the officers 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.