2007 California Government Code Article 5. Employee Benefits And Retirement System

CA Codes (gov:66540.55-66540.68)

GOVERNMENT CODE
SECTION 66540.55-66540.68



66540.55.  The authority shall prescribe a method of securing
employees, shall adopt rules and regulations governing the employment
of employees, and shall prescribe the compensation to be paid to
employees, including the provision of compensation based upon
successful accomplishment of goals and objectives specified in
advance.



66540.56.  Represented employees of the San Francisco Bay Area Water
Transit Authority shall become employees of the authority and shall
suffer no loss of employment or reduction in wages, health and
welfare benefits, seniority, retirement benefits or contributions
made to retirement plans, or any other term or condition of
employment solely as a result of the enactment of this title. No
represented employee of the San Francisco Bay Area Water Transit
Authority shall suffer loss of employment or reduction in wages or
benefits solely as a result of the enactment of this title.



66540.57.  The authority may establish a retirement system for the
officers and employees of the authority and provide for the payment
of annuities, pensions, retirement allowances, disability payments,
and death benefits or any of them.


66540.58.  The authority may maintain its own retirement fund or may
provide for benefits to eligible officers and employees, or their
beneficiaries, by means of group insurance or other insurance, or by
those means that in the opinion of the board will satisfactorily
provide an adequate and sure method of meeting the payments
contemplated by the retirement system.



66540.59.  Before establishing any retirement system, the authority
shall secure a report from a qualified actuary, which shall show the
cost of the benefits provided by the system, and the prospective
assets and liabilities of the system.



66540.60.  The board may adopt all ordinances and resolutions and
perform all acts necessary or convenient to the initiation,
maintenance, and administration of the retirement system.



66540.61.  As an alternative method of providing a retirement
system, the board may contract with the Board of Administration of
the Public Employees' Retirement System and enter all or any portion
of its employees under that system pursuant to law and under the
terms and conditions of that contract, or may contract with the Board
of Administration of the Public Employees' Retirement System for
reciprocal benefits between the Public Employees' System, or a city,
or city and county, or any other public agency contracting with the
Public Employees' Retirement System and the authority's retirement
system as authorized by Section 20042, and may perform all acts
necessary or convenient to provide for those reciprocal benefits.




66540.62.  The board may also contract with the Board of
Administration of the Public Employees' Retirement System for
participation in the Federal Social Security Act and may perform all
acts necessary or convenient for that participation.




66540.63.  The board may classify and determine the officers and
employees who shall be included as members in the retirement system
and may change the classification from time to time. Membership of
all officers and employees so classified and included in the
retirement system is compulsory.



66540.64.  The board may prescribe the terms and conditions upon
which the officers and employees of the authority or their
beneficiaries shall be entitled to benefits and the amounts thereof.



66540.65.  Any pension or retirement system adopted by the board
shall be on a sound actuarial basis and provide for contributions by
both the authority and the employee members of the system which shall
be based on percentage of payroll to be changed only by adjustments
on account of experience under the system.


66540.66.  Contributions shall be in amounts that shall accumulate
at retirement a fund sufficient to carry out the promise to pay
benefits to the individual on account of his or her service as a
member of the system, without further contributions from any source.




66540.67.  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.


66540.68.  (a) This article does not apply to any employees of the
authority in a bargaining unit that is represented by a labor
organization, except as to the protection of the rights of those
employees that were employees of the San Francisco Bay Area Water
Transit Authority as specifically provided in Section 66540.56.
   (b) The adoption, terms, and conditions of the retirement systems
covering employees of the authority in a bargaining unit represented
by a labor organization shall be pursuant to a collective bargaining
agreement between that labor organization and the authority. Any such
retirement system adopted pursuant to a collective bargaining
agreement shall be on a sound actuarial basis. The authority and the
labor organization representing the authority's employees in a
bargaining unit shall be equally represented in the administration of
that retirement system.
   (c) The authority shall assume and be bound by the terms and
conditions of employment set forth in any collective bargaining
agreement or employment contract between the San Francisco Bay Area
Water Transit Authority and any labor organization or employee
affected by the creation of that authority, as well as the duties,
obligations, and liabilities arising from, or relating to, labor
obligations imposed by state or federal law upon the San Francisco
Bay Area Water Transit Authority.

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