§ 24921
76 words·~1 min read·
/ca/education-code/24921A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any plan shall not be adopted or established until the governing boards, after any inquiry and hearing they may direct, find that the respective contributions of the teachers and other employees and the districts provided for in the plan, are substantially in accordance with the more recent generally prevailing rates of contributions in public institutions that have established retirement systems, and that the plan is in accordance with sound business practice and with recognized actuarial methods.