Statute · California Public Utilities Code
Cal. Pub. Util. Code § 99271 — Claims for Funds
Cal. Pub. Util. Code § 99271
- Type
- Statute
- Source
- California Public Utilities Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) An operator shall be eligible for allocations under this article, on and after July 1, 1976, only if the current cost of its retirement system is fully funded with respect to the officers and employees of its public transportation system, or if the operator is implementing a plan approved by…
Citator
Cal. Pub. Util. Code § 99271 — Claims for Funds is in force in the current edition of the Code, and nothing recorded condemns it.
(a) An operator shall be eligible for allocations under this article, on and after July 1, 1976, only if the current cost of its retirement system is fully funded with respect to the officers and employees of its public transportation system, or if the operator is implementing a plan approved by the transportation planning agency which will fully fund the retirement system for such officers and employees within 40 years.
(b) “Fully funded” with respect to the retirement system, means that the system, at any particular time, has assets determined to be sufficient to provide for the payment of all pension and other benefits to such officers and employees then entitled, or who may become entitled, under terms of the system to an immediate or deferred benefit in respect to service rendered by such officers and employees.