Section 66540.64.
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 and the amounts thereof. (Repealed and added by Stats. 2007, Ch. 734, Sec. 2. Effective January 1, 2008.)
Section 66540.65.
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 members of the system which shall be based on percentage of payroll to be changed only by adjustments on account of experience under the system. (Added by […]
Section 66540.66.
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 of his or her service as a member of the system, without further contributions from any source. (Added by Stats. 2007, Ch. 734, Sec. 2. Effective January 1, […]
Section 66540.67.
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 benefits, participation, or contributions thereto or thereunder. (Added by Stats. 2007, Ch. 734, Sec. 2. Effective January 1, 2008.)