This law section allows any city to choose a retirement system that's suitable for its specific size and needs.

This law allows cities to create their own retirement systems for government workers. These systems may include retirement payments, pensions, disability benefits, and death benefits.

This law means that employers are not allowed to have different contribution rates or benefits for male and female employees. Essentially, men and women must be treated equally when it comes to contributions and benefits in the workplace.

Before a city can officially create a retirement system with an ordinance, its legislative body must first pass a resolution to announce their plan to do so. This resolution needs to include a summary of the key parts of the proposed retirement system.

Before a retirement plan for employees can be approved, there must first be an election where these employees can vote privately on whether they agree or disagree with the proposal.

This law section says that the ballot for an election must include a summary of the retirement system, as described in the resolution.

This law section states that a city will hold an election, designed by its legislative body, to allow groups like firemen, policemen, and other city employees to vote for or against a particular system. If a group votes against it, they won't be included in it. If the group approves, joining the system becomes mandatory for all members of that group.

This law explains how a city's retirement system can be created and repealed. To establish it, either the majority of city voters must agree or at least two-thirds of the city's legislative body must approve. Once established, only a public vote can repeal it.

This section requires that a local ordinance establish a retirement board to manage the system's operations. The board is given the necessary powers and responsibilities to fulfill the article's goals.

This law section gives legislative bodies the option to manage their own pension and retirement funds or to partner with city, county, or state departments for help. They can work together on setting up and running the retirement system, investing and managing the funds, or any other related service.

This law outlines how city retirement systems in California must handle any extra funds they receive, specifying where these funds can be invested. The investments must be in certain types of secure securities and deposits. These include investments legal for savings banks, municipal bonds, state-approved securities for pension funds, and insured savings deposits.

Permissible investments also include state or national bank deposits, insured savings and loan associations, and registered warrants from state subdivisions. The retirement funds can also be invested in certified insurance contracts for specific annuity plans for their members.

This law allows city retirement systems to invest their extra funds in real estate or construction projects to sell or lease to government entities like cities or school districts in California. However, this is only possible if certain rules are followed. First, four out of five members of the authorized body must approve the investment. Secondly, the system's assets should exceed $500,000, and real estate investments shouldn't make up more than 25% of those assets.

Before making an investment, there must be a rental agreement with a government agency ensuring enough income to cover the investment and interest. The interest rate on such investments should be slightly higher than the average rate on other assets. Moreover, the city has the power to perform various actions like buying, selling, or leasing property, constructing buildings, and maintaining these properties to protect their investments.

This law says city retirement funds that aren't needed right away can be invested in certain bonds. These bonds are issued under specific rules from 1915. The important thing is that a property tax can be used to cover the investment, but it can't be more than 10 cents for every $100 of property value. This tax should be enough to cover all principal and interest payments on the bonds each year.

This law explains how city retirement systems in California can invest their extra funds. They can invest in two main ways: by making loans that are secured against real estate properties. First, the loans can be backed by the Federal Housing Commissioner, which means they are guaranteed or insured. Secondly, they can be loans guaranteed by the U.S. government for military service members as per a specific federal act.

This law allows city retirement systems to invest a portion of their retirement funds in certain stocks, under specific conditions. In the first two years, up to 10% of the fund's assets can be invested in common stocks, increasing to 15% in the third year, and up to 25% after that. For preferred stocks, the initial limit is 2%, increasing to 3% in the second year and up to 5% after that.

The common stocks must be on a national securities exchange or listed on NASDAQ, unless they belong to certain banks or insurance companies. These companies must have a solid financial foundation, including assets over $100 million and no dividend payment problems on preferred stocks. They also need a consistent dividend history with no major lapses in recent years. Investments are restricted to not exceed 5% of a company's shares or more than 2% of the fund in one stock.

This law requires city retirement systems to hire investment advisors or trust companies from banks. These professionals will help manage the investment programs for city retirement systems.

This law allows a city's retirement board or city treasurer, with city council approval, to enter into 'security loan agreements' with brokers and banks to increase investment income. A security loan agreement is a contract where the lender (like the city) temporarily lends corporate or government securities to a borrower in exchange for collateral. The city retains all financial benefits like dividends during the loan, but cannot vote on the securities. If fair market changes, collateral adjustments are necessary to ensure it's at least 102% of the loaned securities' value. Documentation and oversight are required, and the financial outcomes of the loan must be made public separately from other investments.

This law allows the board to invest in stocks or shares of a large and diversified investment company, as long as the company is registered under the Investment Company Act of 1940 and has assets worth at least $50 million. The law also limits these investments to no more than 25% of the fund's total assets, based on the cost of these stocks or shares, ensuring a balanced investment approach.

This law outlines the key components required in the ordinance that sets up a pension and retirement system for city employees. It covers how benefits are determined and paid to employees or their beneficiaries, including the contribution requirements both from employees and the city to the pension fund. Notably, the city's contributions cannot exceed those of the employees. The regulation also specifies the makeup of the retirement board, ensuring at least two members are elected by the employees involved in the system. Furthermore, it mandates the creation of administration regulations and allows employees who leave the system before retirement to request a refund of their contributions plus interest.

If you're part of a pension or retirement plan under this chapter, you can't get credit for any service or contributions that go against the rules in Section 34095 or Section 50033. Basically, you won't earn benefits for activities prohibited by those sections.

This law section allows a city ordinance to include two key points about retirement benefits for city employees. Firstly, retirement, compensation, or pension plans can be based partly on the services employees provided before the retirement system was set up. Secondly, the city can collect employee contributions to the retirement system directly from their salaries or wages.

This law states that if an elected public officer has any part of their service forfeited under a certain condition (referenced as Section 1243), they are no longer considered a member for that forfeited time period.

This law allows a city to create an ordinance that modifies the retirement benefits of its members if they are part of multiple retirement systems, like those under the County Employees’ Retirement Law of 1937 and the Public Employees’ Retirement Law. For the changes to take effect, the ordinance must be filed with each retirement board involved, and they must accept the city system as a reciprocal system.

The changes will only apply to members who switch their employment and retirement system membership after the ordinance becomes effective. However, any rules about calculating final compensation will apply to all members who meet certain conditions, regardless of when they switched.

This statute ensures that if a city’s retirement system is deemed reciprocal with the Public Employees’ Retirement System, it automatically becomes reciprocal with other state and local systems as well.

This law allows former city employees, who were once part of a reciprocal retirement or the Public Employees' Retirement System, to redeposit their previously withdrawn retirement contributions if they are currently an active member of a similar system.

If a former member chooses to redeposit, they regain the same benefits as if they had never withdrawn their funds, including a deferred retirement allowance and potentially a reduced entry age for retirement purposes. However, the law primarily applies to those who served in active law enforcement or firefighting roles, not clerical or similar positions.

Retired individuals or those not currently employed by specific public safety agencies are excluded. Each city must have criteria for redeposit eligibility, especially when records are incomplete. This statute recognizes the unique risks faced by public safety officers and aims to ensure they can access pension benefits across various city jurisdictions in the state.

This section explains the rights of city retirement system members who don't have enough service time to be vested. Starting January 1, 2003, such members can choose to leave their contributions in the city's retirement fund. If they don't make a withdrawal choice, it automatically stays in the fund.

Members can take back their decision to leave contributions in, but only if they're not working in a job that's part of this or certain other retirement systems. If they revoke, they can withdraw all contributions made.

Members who continue under this rule must meet the same age and service requirements for retirement as others. They can get retirement benefits based on their contributions, service, and the city's contributions when they retire.

When figuring out if someone meets the service requirement for retirement, all service in connected retirement systems counts if they're retiring from all of them at the same time. But, if they don't have enough service across all systems, they can't retire based on service or disability from this system.

This law aims to help public agencies attract and keep top employees by allowing them to keep their service credit from public employment, encouraging their return to public service.

This law is designed to support local prosecutors, public defenders, and investigators, acknowledging the risks of their jobs by providing pension benefits similar to those offered to safety members in other jurisdictions. If a prosecutor or defender becomes unable to work due to job-related issues or age, they should be able to retire with proper benefits, allowing more capable individuals to take their place. Their past service can be reclassified to safety service under certain conditions, but benefits must not exceed those provided to other local safety members. However, to apply, each city's government must approve this by a majority vote, and individuals can choose to opt out of these benefits. The law applies to retirements effective after this provision starts in a city. It does not apply to those who pass away before it becomes operative.

This law allows a city to boost its pension and retirement funds by accepting additional money from private donations or extra funds that the city doesn't need for other purposes. The city's legislative body gets to decide if it's appropriate to use these extra funds for enhancing pensions and retirement benefits.

Before an officer or employee can retire due to a physical disability, the retirement board must have solid medical evidence proving the disability.

If a person retires because of a disability and later their disability improves, their retirement payments will be adjusted to match their reduced level of disability. The payments will stop completely if their disability goes away entirely.

The decision made by the retirement board is considered final and cannot be changed or overturned unless there is evidence of fraud or if they have used their decision-making power improperly.

This law provides a different way for cities to set up retirement systems for their employees, offering an alternative process compared to standard procedures.

This law allows any existing fire or police protection district to set up a retirement plan for its workers based on the guidelines provided in this article.