SECTIONS 22140-22144 - California Statutes

WATER CODE

SECTION 22140-22144

22140. The board may establish or modify any existing plan or
system, so as to provide for a pension or retirement plan or system
for the benefit of officers, including directors, and employees of
the district and therein provide for the payment of annuities,
pensions, retirement benefits, disability payments and death benefits
or any one or more of them.

22141. The district may maintain its own pension, retirement,
disability benefit and death benefit fund or may provide for benefits
to eligible officers and employees, or their beneficiaries, by means
of group insurance, group annuities 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 its
plan or system.

22143. This article does not affect the authority of any district
to participate in the State Employees' Retirement System or any
county employees' retirement system.

22144. If a district has terminated a plan which did provide
retirement benefits and has entered into a contract to participate in
the Public Employees' Retirement System, it may adopt a plan to
increase retirement benefits for former employees who had retired
prior to provision being made in the contract with the Public
Employees' Retirement System for past service credit. Such plan shall
be designed to provide increased retirement benefits based on
cost-of-living changes as determined by the board. Payments shall be
from the general fund of the district and shall be limited to the
benefits set forth in the terminated plan, plus the cost-of-living
increases determined by the board.