Section 20530.1 Of Article 3. Contracting Agency Financial Obligations From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 5. >> Article 3.
20530.1
. (a) An agency whose contract provides for participation of
its employees in this system may request the employees' service,
with the contracting agency, prior to the date the employees became
members of this system, be credited under this system. If the
employees are members of a local retirement system and received
service and contribution credits under that local retirement system,
credit in this system may be granted if the system administrator
certifies that the local system may be transferred.
(b) This section shall apply only to members employed by the
contracting agency on the effective date of the contract or the
amendment to the contract in which the contracting agency elects to
be subject to the provisions of this section. Any cash and securities
to the credit of the local retirement system and held on account of
affected employees shall be transferred to this system as of said
effective date.
(c) Notwithstanding subdivision (b), the board may make
arrangements with the agency for the transfer of all or a portion of
assets, or all or a portion of service credit, over an appropriate
period following the effective date of the contract or the amendment
to the contract, if it finds that transfer as of the effective date
is not possible without hardship to the agency or its employees.
Nothing in these arrangements for the partial transfer of assets or
service credit shall affect the crediting of service for purposes of
determining eligibility for benefits under this system. Interest may
be charged at the discretion of the board.
(d) This section may not apply to any contracting agency unless
and until the agency elects to be subject to this section by contract
or amendment to the contract made in the manner prescribed for
approval of contracts.