Added by Stats. 2003, Ch. 897, Sec. 1. Effective January 1, 2004.
(a)Upon adoption of the implementing ordinance, the retirement system shall establish procedures for notifying members of their rights under the program.
(b)Each member, before electing to participate in the program, shall be given written information regarding how benefits under the program would be calculated and a comparison of the member’s anticipated benefits at retirement with and without participation in the program. All members will be advised to seek advice from professional tax and investment advisors before electing to participate in the program.
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