An operator that has a private pension plan shall be eligible for allocations under this article, on and after July 1, 1976, only if the operator does both of the following:
(a) Conducts periodic actuarial studies of its employee pension plans to determine the annual cost of future pension benefits.
(b) Sets aside and invests, on a current basis, funds sufficient to provide for the payment of future pension benefits.
(Amended by Stats. 1986, Ch. 988, Sec. 12.)
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