CHAPTER 5. Retirement System [50130. - 50156.]

Chapter 5 added by Stats. 1963, Ch. 839.

§§ 50130–50156 · 19 sections

1. ARTICLE 1. Establishment §§ 50130–50135 · 6 sections

   • § 50130 The board may establish a retirement system for the officers and employees of the district and provide for the payment of annuities, pensions, retirement…
   • § 50131 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…
   • § 50132 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…
   • § 50133 The board may adopt all ordinances and resolutions and perform all acts necessary or convenient to the initiation, maintenance, and administration of the…
   • § 50134 Nothing in this chapter prevents a district from participating in and making all or part of its employees members of the State Employees’ Retirement System by…
   • § 50135 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…
2. ARTICLE 2. Benefits and Contributions §§ 50140–50146 · 7 sections

   • § 50140 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…
   • § 50141 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…
   • § 50142 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…
   • § 50143 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…
   • § 50144 Liabilities accruing under the retirement system because of benefits other than such as are the equivalent of contributions by the members, with accumulated…
   • § 50145 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…
   • § 50146 All money received by any person as an annuity, pension, retirement allowance, disability payment, or death benefit from the retirement system, and all…
3. ARTICLE 3. Retirement Board §§ 50150–50153 · 4 sections

   • § 50150 The board shall create a retirement board of not more than five members, at least two members of which shall be the elected representatives of the employees,…
   • § 50151 All members of the retirement board shall serve without pay.
   • § 50152 The retirement board shall determine the eligibility of officers, employees, and their dependents to participation in the system and shall be the sole…
   • § 50153 If the district maintains its own retirement fund the retirement board shall have exclusive control of the administration, investment, and disbursement of such…
4. ARTICLE 4. Investigation and Penalties §§ 50155–50156 · 2 sections

   • § 50155 At least once in each four-year period after the establishment of the retirement system the board shall cause to be made an actuarial valuation of the assets…
   • § 50156 Except as herein provided, no member of the board or of the retirement board, nor any member of the retirement system or employee of the district, shall have…