The board shall provide that both the district and the members shall contribute to the retirement system. The rate of contribution by an officer or employee of the district becoming a member of the retirement system shall be so fixed as to provide, with accumulated interest and based on tables and assumptions adopted by the board, substantially one-half the value of any retirement allowance granted for service, exclusive of any credits allowed for prior service.
Cal. Pub. Util. Code § 50142
Benefits and Contributions
Known as the San Joaquin Regional Transit District Act
The act spans §§ 50000–50507 (187 sections).
Added by Stats. 1963, Ch. 839.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.