§ 103442 Public Utility Pension Transfers

• •If a public utility is bought, its pension recipients can join a new district pension plan.
• •The switch only happens if both the person and the district agree.
• •The person can also choose to give up all rights to the old utility’s pension plan.

A worker receives a pension from a city water department that was later bought by the county. The worker and the county agree that the worker will move into the county’s pension plan and give up any claim to the old water department pension.

Because the utility was acquired, the worker can switch to the county’s pension plan by mutual agreement and can even sign away any benefits from the old plan.