Public Utilities Code - PUC
DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]
( Division 10 repealed and added by Stats. 1955, Ch. 1036. ) PART 2. SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT [28500 - 29757]
( Part 2 added by Stats. 1957, Ch. 1056. ) CHAPTER 5. Retirement System [28870 - 28913]
( Chapter 5 added by Stats. 1957, Ch. 1056. ) ARTICLE 2. Benefits and Contributions [28890 - 28896]
( Article 2 added by Stats. 1957, Ch. 1056. ) 28892.
The board shall provide that both the district and the members shall contribute to the retirement system. The rate of contribution by an officer or employee of the district becoming a member of the retirement system shall be so fixed as to provide, with accumulated interest and based on tables and assumptions adopted by the board, substantially one-half the value of any retirement allowance granted for service, exclusive of any credits allowed for prior service.
(Added by Stats. 1957, Ch. 1056.)