Any pension or retirement system adopted shall be on a sound actuarial basis and provide for contributions by both the city and the employee members of the system which shall be based on percentages of pay roll to be changed only by adjustments on account of experience under the system.

(Added by Stats. 1949, Ch. 79.)

Terms Used In California Government Code 45342

  • City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
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