County Employees Retirement Law of 1937 (CERL) - sdcera

§31506. Retired members of superseded systems to be paid
All previously retired members of the superseded system shall be paid for their
respective lives the full amount of the retirement payments or annuities to which they are
entitled.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31507. Appropriation to meet obligations of superseded systems
The retirement board created by this chapter shall determine the amount and kind of
assets necessary to meet the requirements of Section 31506, and if the amount so determined
proves insufficient, the county shall annually appropriate the sum necessary to fulfill the
requirements.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31508. Administration of assets; transfer of superseded system’s assets
The assets shall be administered solely by the board subject to the provisions of this
chapter as to the custody, investment, and disbursement of the retirement fund. If there
are assets of the superseded system remaining after the termination of all liabilities of the
superseded system, the remaining assets shall be transferred to and become part of the
retirement fund.
(Added by Stats. 1947, Ch. 424, Sec. 1)
§31509. Withdrawal of special contributions to superseded system
A member who has made special contributions to a superseded system shall have the
option of withdrawing such special contributions together with interest thereon, following
the transfer of contributions to this system, or of permitting the contributions to remain as
additional contributions to this system. Any member electing to make such withdrawal shall
do so by written notice addressed to the board within 90 days after the effective date of this
system.
(Added by Stats. 1947, Ch. 424, Sec. 1)
Article 2.1
Additional Plan for Counties of the First Class (Los Angeles)
(Article 2.1 added by Stats. 1989, Ch. 1300, Sec. 1, Effective October 1, 1989, Applicable as
prescribed by Section 31510)
§31510. Los Angeles County; application of article; purpose; limitations on benefits; priority
of application (Los Angeles)
(a) This article shall be applicable to all members of the retirement system of any county
of the first class, as defined by Section 28020, as amended by Chapter 1204 of the Statutes of
1971, and Section 28022, as amended by Chapter 43 of the Statutes of 1961.
(b) The purpose of this article is to provide a defined contribution plan which, in
conjunction with retirement benefit provisions otherwise contained in this chapter, will provide
approximately the same level of retirement benefits to persons who first become members on
or after January 1, 1990, and are subject to the limitations set forth in Section 415 of the Internal
Revenue Code of 1986, as they would receive under the other retirement benefit provisions
in the absence of those limitations, while not affecting the rate of either member or employer
contributions to the retirement system. In addition, it is intended that subdivisions (c) and (d)
Article 2, §31506. - Article 2.1, §31510. 90