An operator that has a private pension plan shall be eligible for allocations under this article, on and after July 1, 1976, only if the operator does both of the following: (a) Conducts periodic actuarial studies of its employee pension plans to determine the annual cost of future pension benefits. (b) Sets aside and invests, on a current basis, funds sufficient to provide for the payment of future pension benefits.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.