California Government Code 31505 – The assets and records of a superseded system shall become the assets …
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The assets and records of a superseded system shall become the assets and records of this retirement system, but there shall be left to the superseded system not established pursuant to either Chapter 4 or Chapter 5, sufficient assets, according to tables adopted by the board of supervisors, to pay all retirement payments or annuities to persons who have been retired under the superseded retirement system.
(Amended by Stats. 1951, Ch. 1098.)
Terms Used In California Government Code 31505
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.