§ 28892 Retirement Contribution Requirements

Public Utilities Code·California

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Key Takeaways

•Both the district (like your workplace) and the workers pay into the retirement fund.
•Workers pay half the cost of their retirement benefits over time.
•The money grows with interest to help pay for retirement later.

Example

If you work for a school district, part of your paycheck goes into a retirement fund.

The district also adds money to this fund. Together, these payments (plus interest) will pay for your retirement when you stop working.

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Official Source

View on CA.gov

§ 28892 Retirement Contribution Requirements

The board shall provide that both the district and the members shall contribute to the retirement system. The rate of contribution by an officer or employee of the district becoming a member of the retirement system shall be so fixed as to provide, with accumulated interest and based on tables and assumptions adopted by the board, substantially one-half the value of any retirement allowance granted for service, exclusive of any credits allowed for prior service. (Added by Stats. 1957, Ch. 1056.)

Last verified: January 23, 2026

Key Terms

retirement system contribution rate retirement allowance prior service

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 28892.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References