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.
Cal. Gov. Code § 45342
Pension and Retirement Systems
Applied in 1 court decision — leading case Manhart v. City of Los Angeles (1976)
Most recently applied in Manhart v. City of Los Angeles (November 1976)
Added by Stats. 1949, Ch. 79.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.