Article 1. Establishment of California Public Utilities Code >> Division 10. >> Part 1. >> Chapter 5. >> Article 1.
The board may establish a retirement system for the officers
and employees of the district and provide for the payment of
annuities, pensions, retirement allowances, disability payments, and
death benefits or any of them, provided that the adoption, terms and
conditions of any retirement system covering employees of the
district, a majority of who are represented by a labor organization
in accordance with Chapter 4 (commencing with Section 25051) of this
part, shall be pursuant to a collective bargaining agreement between
such labor organization and the district.
The district may maintain its own retirement fund or may
provide for benefits to eligible officers and employees, or their
beneficiaries, by means of group insurance or other insurance, or by
such means as in the opinion of the board will satisfactorily provide
an adequate and sure method of meeting the payments contemplated by
the retirement system.
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.
The board may adopt all ordinances and resolutions and
perform all acts necessary or convenient to the initiation,
maintenance, and administration of the retirement system.
Nothing in this chapter prevents a district from
participating in and making all or part of its employees members of
the State Employees' Retirement System by contract entered into
between the district and the board of administration of the system
under the State Employees' Retirement Law or from participating in
the Federal Social Security Act, or from participating in the
retirement system of any other public agency for which it is
eligible, and the district may perform all acts necessary or
convenient for such participation. Such participation shall not be
considered as establishing a retirement system subject to the
provisions of this chapter.
The board may classify and determine the officers and
employees who shall be included as members in the retirement system
and may change the classification from time to time. Membership of
all officers and employees so classified and included in the
retirement system is compulsory. The retirement system shall not
apply to elective officers.