Section 45316.
45316. This article provides an alternative procedure for the establishment of retirement systems in cities. (Added by Stats. 1949, Ch. 79.)
Section 45308.55.
45308.55. Notwithstanding Section 45308.1 the board may also invest in any stocks or shares of a diversified management investment company registered under the “Investment Company Act of 1940” which has total assets of at least fifty million dollars ($50,000,000); except that the total investment in such stocks and shares, together with stocks and shares of […]
Section 45317.
45317. Any regularly established fire or police protection district may adopt a retirement system for its employees pursuant to this article. (Added by Stats. 1949, Ch. 79.)
Section 45308.6.
45308.6. For purposes of Section 45308.5, city retirement systems shall employ investment counsel or trust companies or trust departments of banks to render service in connection with the city retirement system’s investment program. (Added by Stats. 1967, Ch. 1359.)
Section 45341.
45341. The legislative body may establish a pension plan and provide retirement and death benefits for city employees in order to effect economy and efficiency in the public service and provide a means by which employees who become superannuated or otherwise incapacitated may, without hardship or prejudice, be replaced by more capable employees. (Added by […]
Section 45308.7.
45308.7. The city retirement board, if there is one, or the city treasurer with the approval of the city council, may enter into security loan agreements with broker-dealers and with California or national banks for the purpose of prudently supplementing the income normally received from investments. (b) “Security loan agreement” means a written contract whereby a […]
Section 45342.
45342. Any pension or retirement system adopted shall be on a sound actuarial basis and provide for contributions by both the city and the employee members of the system which shall be based on percentages of pay roll to be changed only by adjustments on account of experience under the system. (Added by Stats. 1949, […]
Section 45309.
45309. Among other matters, the ordinance establishing the system shall provide for: (a) The amount of benefits to be paid to any officers or employees, or their beneficiaries, and the terms and conditions upon which the benefits will be paid. (b) The contribution to be paid by the officers or employees to the pension and retirement fund. […]
Section 45343.
45343. Contributions shall be in amounts which will accumulate at retirement a fund sufficient to carry out the promise to pay benefits to the individual on account of his service as a member of the system, without further contributions from any source. (Added by Stats. 1949, Ch. 79.)
Section 45309.5.
45309.5. A member of a pension or retirement system established pursuant to this chapter shall not receive credit for service or contributions for credit for service in violation of the prohibitions provided in Section 34095 or Section 50033. (Added by Stats. 2006, Ch. 355, Sec. 6. Effective January 1, 2007.)