Section 99272

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:


Conducts periodic actuarial studies of its employee pension plans to determine the annual cost of future pension benefits.


Sets aside and invests, on a current basis, funds sufficient to provide for the payment of future pension benefits.


Original source: https://­leginfo.­legislature.­ca.­gov/­faces/­codes_displaySection.­xhtml?lawCode=PUC&sectionNum=99272.­ External link icon (last accessed December 5, 2016).