Public Utilities Code - PUC
DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]
( Division 10 repealed and added by Stats. 1955, Ch. 1036. ) PART 11. PROVISIONS APPLICABLE TO ALL PUBLIC TRANSIT [99150 - 99582]
( Part 11 added by Stats. 1968, Ch. 1325. ) CHAPTER 4. Transportation Development [99200 - 99420]
( Chapter 4 added by Stats. 1971, Ch. 1400. ) ARTICLE 4. Claims for Funds [99260 - 99273]
( Article 4 added by Stats. 1971, Ch. 1400. ) 99272.
An operator that has a private pension plan shall be eligible for allocations under this article, on and after July 1, 1976, only if the operator does both of the following:
(a) Conducts periodic actuarial studies of its employee pension plans to determine the annual cost of future pension benefits.
(b) Sets aside and invests, on a current basis, funds sufficient to provide for the payment of future pension benefits.
(Amended by Stats. 1986, Ch. 988, Sec. 12.)