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HomeHarbors and Navigation CodeDiv. 5Ch. 3§ 1162 Pilot Pension Plan Administration

§ 1162 Pilot Pension Plan Administration

Harbors and Navigation Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 1162 Pilot Pension Plan Administration

This law says a pension plan for pilots is run by trusted agents chosen by the board, and the pilots only collect money and send it to those agents each month.

Key Takeaways

  • •The board picks one or more fiduciary agents to run the pension plan.
  • •Pilots have no say in how the plan is run, except for collecting money.
  • •Pilots collect the money at no cost to the state or board and send it monthly to the agents.
  • •The collected money is kept separate from the account mentioned in Section 1136.

Example

Pilots collect their retirement contributions from each flight and mail the money to the company that manages the pension fund.

The pilots don't decide how the pension is invested or paid out; they just gather the money and give it to the fiduciary agents, and the state doesn't have to pay for this work.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 1162 Pilot Pension Plan Administration

(a) The pension plan shall be administered and all benefit payments shall be made by one or more fiduciary agents selected by the board. Except for the collection of revenues in accordance with Section 1165 and the pilots serving as members of the board, and unless otherwise directed by the board, the pilots shall have no control of any kind or manner over the operation, administration, or management of the plan. (b) All revenues pursuant to the plan shall be collected by the pilots, at no cost to the state or board, and transmitted monthly to the fiduciary agent or agents. The revenues shall not be included in the account required by Section 1136. (Amended by Stats. 1992, Ch. 639, Sec. 2. Effective January 1, 1993.)

Last verified: January 11, 2026

Key Terms

pension planfiduciary agentsboardpilotsrevenues

Related Statutes

  • § 1168 Pension Plan Review Authority
  • § 1161 Pilot Pension Fund Use
  • § 1165 Pilotage Pension Funding Rates
  • § 5900.2 Board Seal Authority
  • § 5900.3 District Property Acquisition Powers

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Harbors and Navigation Code. Section 1162.
View Official Source