ARTICLE 5. Employee Benefits and Retirement System
Article 5 added by Stats. 2007, Ch. 734, Sec. 2.
§§ 66540.55–66540.68 · 14 sections
- § 66540.55 The authority shall prescribe a method of securing employees, shall adopt rules and regulations governing the employment of employees, and shall prescribe the…
- § 66540.56 Represented employees of the San Francisco Bay Area Water Transit Authority shall become employees of the authority and shall suffer no loss of employment or…
- § 66540.57 The authority may establish a retirement system for the officers and employees of the authority and provide for the payment of annuities, pensions, retirement…
- § 66540.58 The authority may maintain its own retirement fund or may provide for benefits to eligible officers and employees, or their beneficiaries, by means of group…
- § 66540.59 Before establishing any retirement system, the authority shall secure a report from a qualified actuary, which shall show the cost of the benefits provided by…
- § 66540.60 The board may adopt all ordinances and resolutions and perform all acts necessary or convenient to the initiation, maintenance, and administration of the…
- § 66540.61 As an alternative method of providing a retirement system, the board may contract with the Board of Administration of the Public Employees’ Retirement System…
- § 66540.62 The board may also contract with the Board of Administration of the Public Employees’ Retirement System for participation in the Federal Social Security Act…
- § 66540.63 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…
- § 66540.64 The board may prescribe the terms and conditions upon which the officers and employees of the authority or their beneficiaries shall be entitled to benefits…
- § 66540.65 Any pension or retirement system adopted by the board shall be on a sound actuarial basis and provide for contributions by both the authority and the employee…
- § 66540.66 Contributions shall be in amounts that shall accumulate at retirement a fund sufficient to carry out the promise to pay benefits to the individual on account…
- § 66540.67 Nothing in any pension or retirement system or plan shall prevent the board from, at any time, amending, changing, modifying or terminating any provision for…
- § 66540.68 (a) This article does not apply to any employees of the authority in a bargaining unit that is represented by a labor organization, except as to the protection…