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.
(Added by Stats. 2007, Ch. 734, Sec. 2. Effective January 1, 2008.)
Last modified: October 25, 2018