§ 28855 Public Utility Pension Transfers

• •If a public utility company is bought by a district, its workers can join the district's retirement plan.
• •Workers who already get pensions from the old company can keep getting them under the district's plan if both sides agree.
• •The district and the workers must agree on this together—no one can force it.

A small town buys the local water company, and the water company workers worry about their pensions.

The town and the workers can make a deal so the workers can either join the town’s retirement plan or keep their old pensions.