California Government Code

§ 31564.2

GOV § 31564.2 Effective Jan 1, 1999Div. 4 · Title 3 · Part 3 · Ch. 3 · Art. 4

Statute text

(a)If a district’s participation in the retirement system is terminated pursuant to the provisions of Section 31564, the district shall remain liable to the retirement system for the district’s share of any unfunded actuarial liability of the system which is attributable to the officers and employees of the district who either have retired or will retire under the retirement system.

(b)Unless otherwise developed by an actuarial source and approved by the board of retirement, the amount of the district’s liability shall be the unfunded actuarial liability of the entire system, computed as described below, multiplied by a fraction:

(1)The numerator of which is the total amount required to be contributed to the plan by the withdrawing district for the last five years ending prior to the withdrawal date.

…

Legislative history

Added by Stats. 1998, Ch. 109, Sec. 4. Effective January 1, 1999.