The Funds established under the various Tiers of the Fire and Police Pension Plan shall be considered trust funds in accordance with Article XVI, Section 17 of the Constitution of the State of California and to the extent required by Section 401(a) of the Internal Revenue Code and the regulations thereunder. In the event of the termination of the Fire and Police Pension Plan, or the complete discontinuance of employer contributions, the rights of all plan members to benefits accrued to the date of termination or discontinuance shall be nonforfeitable.
SECTION HISTORY
Added by Ord. No. 171,697, Eff. 8-27-97, Oper. 7-1-97.
Amended by: Ord. No. 173,272, Eff. 6-25-00, Oper. 7-1-00; In Entirety, Ord. No. 174,803, Eff. 9-16-02.