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 system, and the prospective assets and liabilities of the system.
Cal. Pub. Util. Code § 25303
Establishment
Known as the Transit District Law
The act spans §§ 24501 to 27509 (308 sections).
Added by Stats. 1955, Ch. 1036.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.