Article 2. Benefits And Contributions of California Public Utilities Code >> Division 10. >> Part 3. >> Chapter 4. >> Article 2.
The board may prescribe the terms and conditions upon which
the officers and employees of the district or their beneficiaries
shall be entitled to benefits and the amounts thereof.
Any pension or retirement system adopted shall be on a sound
actuarial basis and provide for contributions by both the district
and the employee members of the system which shall be based on
percentage of pay roll to be changed only by adjustments on account
of experience under the system.
Contributions shall be in amounts which will accumulate at
retirement a fund sufficient to carry out the promise to pay benefits
to the individual on account of his service as a member of the
system, without further contributions from any source.
Nothing in any pension or retirement system or plan shall
prevent the board from, at any time, amending, changing, modifying or
terminating any provision for benefits, participation, or
contributions thereto or thereunder.