California Public Utilities Code

§ 28892

PUC § 28892Div. 10 · Part 2 · Ch. 5 · Art. 2

Statute text

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.

Legislative history

Added by Stats. 1957, Ch. 1056.