Los Angeles County Municipal Code Part 4 Participants' Accounts: Vesting

The Trustee shall maintain an Account for each Participant. The Account of each Participant shall be credited with earnings thereon, if any, and shall be credited or debited, as the case may be, with the net amount of any gains or losses which may result from the investment of the Account in the Investment Fund. The County, the Administrative Committee and the Trustee shall not be liable for any losses on any investment credited to any Account. The interest of each Participant in his Account will be 100 percent vested and nonforfeitable at all times.

(Ord. 2004-0063 § 1 (part), 2004.)