Section 45312.
45312. Nothing in this article prohibits the enhancement of the pension and retirement fund by private or voluntary contributions, nor the transfer to the fund of any surplus funds of the city which in the sound discretion of the legislative body may properly be used for such purpose. (Added by Stats. 1949, Ch. 79.)
Section 45313.
45313. The retirement board shall require competent medical proof before retiring any officer or employee for physical disability. (Added by Stats. 1949, Ch. 79.)
Section 45308.3.
45308.3. Notwithstanding Section 45308.1, funds received by city retirement systems and not required for current disbursements may be invested in bonds issued pursuant to the Improvement Bond Act of 1915; provided, that an ad valorem tax on all property taxable by the public agency which authorized the issuance of such bonds, at a rate not […]
Section 45308.4.
45308.4. Notwithstanding Section 45308.1, funds received by city retirement systems and not required for current disbursements may be invested in any of the following: (a) First liens on real property if the loan is fully guaranteed or insured or covered by a commitment to guarantee or insure by the Federal Housing Commissioner. (b) First liens on real […]
Section 45308.5.
45308.5. Notwithstanding Section 45308.1, in addition to any other investments as are authorized by this article, city retirement systems may in their discretion under the advice of proper counsel invest the assets of the retirement fund in an amount, determined on the basis of cost, not to exceed 10 percent of the assets in the […]
Section 45300.
45300. It is the intent of this article to enable any city to adopt such a retirement system as is adaptable to its size and type. (Added by Stats. 1949, Ch. 79.)
Section 45301.
45301. By ordinance, any city may establish a retirement system for its officers and employees and provide for the payment of retirement allowances, pensions, disability payments, and death benefits, or any of them. (Added by Stats. 1949, Ch. 79.)
Section 45301.5.
45301.5. Notwithstanding any provision of this chapter to the contrary, separate rates of contribution for male and female employees shall not be maintained or established, nor shall different allowances or benefits be established for male and female employees. (Added by Stats. 1976, Ch. 1436.)
Section 45302.
45302. Before the ordinance establishing a retirement system is adopted, the city legislative body shall adopt a resolution giving notice of intention to adopt the ordinance. The resolution shall contain a summary of the major provisions of the proposed retirement system. (Added by Stats. 1949, Ch. 79.)
Section 45303.
45303. The ordinance shall not be adopted unless an election is first held to permit the employees proposed to be included in the system to express by secret ballot their approval or disapproval of the retirement proposal. (Added by Stats. 1949, Ch. 79.)