Section 24614 Of Chapter 31. Procedures Concerning Payment From California Education Code >> Division 1. >> Title 1. >> Part 13. >> Chapter 31.
24614
. (a) This section shall only be applicable to a district
retirement salary plan in a unified district presently having an
average daily attendance of less than 200,000 pupils and which was
discontinued by the governing board of the district.
(b) The district shall continue to pay monthly to teachers and
other persons who were retired prior to the date of the
discontinuance an amount equal to the amount by which the retirement
allowance to which any of the retired teachers or other persons were
entitled under the district plan exceeds the increase in the teacher'
s or other person's retirement allowance under this part resulting
from the discontinuance. The arrangement under which those amounts
are paid by the district shall not be considered to be a local
retirement system for the purposes of this part, nor shall those
amounts be taken into account in the calculation of retirement
allowances under this part.
(c) The reserve fund created by the district from the assets
delivered to it by the discontinued district retirement plan under
subdivision (c) of former Section 14690 prior to its repeal is
continued in existence and the amounts payable under subdivision (b)
of this section shall be paid from that reserve fund.