LegalFix
Sign In

54.04.160 Assumption of obligations of private pension plan when urban transportation system acquired.

WA Rev Code § 54.04.160 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

RCW 54.04.160 Assumption of obligations of private pension plan when urban transportation system acquired.

Any municipal corporation which has heretofore or shall hereafter acquire from a private owner any urban transportation system which at the time of such acquisition has or had in effect any pension or retirement system for its employees, shall assume all such obligations with respect to continued contributions to and/or administration of, such retirement system, as the private owner bore or shall bear at such time, insofar as shall be necessary to discharge accrued obligations under such retirement system to beneficiaries who are not thereafter made members of a municipal or state retirement system.

[ 1961 c 139 § 4.]

Previous Section
54.04.150 Employee benefit plans when private utility acquired—Agreements and contracts—Prior rights preserved.
Next Section
54.04.170 Collective bargaining authorized for employees.