§ 31779. — 31779. (Added by Stats. 2003, Ch. 897, Sec. 1.)

California § 31779.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 4.
• Title 3.: DIVISION 4. EMPLOYEES
• Part 3.: PART 3. RETIREMENT SYSTEMS
• Ch. 3.: CHAPTER 3. County Employees Retirement Law of 1937
• Art. 11.5.: ARTICLE 11.5. Deferred Retirement Option Program

Text

(a)
After the program has been in effect for a period of at least four years and not more than 10 years, as specified in the implementing ordinance, or up to one year prior to the end of that specified period, the board shall cause an actuarial analysis of the cost impact of the program to be prepared and presented to the board of supervisors or governing body of the district for its review and consideration.
(b)
If the actuarial analysis discloses that the program has not been cost neutral, the board of supervisors or governing board shall, by ordinance or resolution pursuant to a collective bargaining agreement with the bargaining unit, either:
(1)
Discontinue the program, subject to Section 31779.1.
(2)
Modify the program in a manner consistent with the actuarial analysis and the provisions of this article so that the program will be cost neutral.

Legislative History

Added by Stats. 2003, Ch. 897, Sec. 1. Effective January 1, 2004.