Section 125541 Of Article 3. Rights Of Employees Of Existing Facilities From California Public Utilities Code >> Division 11.5. >> Chapter 5. >> Article 3.
125541
. Whenever the district acquires existing facilities from a
publicly or privately owned utility, either in proceedings in eminent
domain or otherwise, that has a pension plan in operation, members
and beneficiaries of that pension plan shall continue to have the
rights, privileges, benefits, obligations and status with respect to
that established system. The outstanding obligations and liabilities
of that public utility by reason of that pension plan shall be
considered and taken into account and allowance made therefor in the
purchase price of that public utility. The persons entitled to
pension benefits as provided for in this section and the benefits
which are provided shall be specified in the agreement or order by
which any public utility is acquired by the district.