Article 2. Retirement System of California Public Utilities Code >> Division 10. >> Part 14. >> Chapter 6. >> Article 2.
The district may provide for a retirement system; provided,
that the adoption, terms, and conditions of any retirement system
covering employees of the district represented by a labor
organization in accordance with this section shall be pursuant to a
collective bargaining agreement between such labor organization and
the district. The district may establish trust accounts for the
purposes of this section.
The board may contract with the board of administration of
the Public Employees' Retirement System and enter all or any portion
of its employees under such system, provided, that no employees of
the district in a bargaining unit which is represented by a labor
organization shall be included in such contract except as authorized
by a collective bargaining agreement.
Whenever the district acquires existing facilities from a
publicly or privately owned public utility, either in proceedings in
eminent domain or otherwise, that has a pension plan in operation,
members and beneficiaries of such pension plan shall continue to have
the rights, privileges, benefits, obligations, and status with
respect to such established system.
Whenever any such facilities are acquired by the district, the
board shall consider and take into account the outstanding
obligations and liabilities of the publicly or privately owned public
utility by reason of such pension plan, and shall negotiate an
allowance in the purchase price of such utility for the assumption of
such obligations and liabilities when acquiring the facilities.