California Public Utilities Code 25303 – Before establishing any retirement system the board shall secure a …
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Before establishing any retirement system the board shall secure a report from a qualified actuary, which shall show the cost of the benefits provided by the system, and the prospective assets and liabilities of the system.
(Added by Stats. 1955, Ch. 1036.)
Terms Used In California Public Utilities Code 25303
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.