At least once in each four-year period after the establishment of the retirement system the board shall cause to be made an actuarial valuation of the assets and liabilities of the retirement fund and upon the basis of such investigation and valuation shall make such revision or change of the rate of contribution, the periods and conditions of service, and amounts of retirement allowances as may be necessary.
Cal. Pub. Util. Code § 98204
Investigation and Penalties
Known as the Santa Cruz Metropolitan Transit District Act
The act spans §§ 98000–98407 (206 sections).
Added by Stats. 1967, Ch. 978.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.