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Title VII CITIES, TOWNS AND VILLAGES

  Chapter 86back to chapter 86

  86.248.  Assets of fund retained for benefit of members. — All assets of the retirement system, including investment income, shall be retained for the exclusive benefit of members and their beneficiaries and shall be used to pay benefits or administrative expenses of the system and shall not revert to or inure to the benefit of any other person or entity prior to the termination of the retirement system established pursuant to sections 86.200 to 86.366, and the satisfaction of all benefit liabilities under such retirement system.

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(L. 1995 H.B. 260, et al. § 5, A.L. 2000 H.B. 1808)

Effective 7-01-00


< end of effective 01 Jul 2000 >

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