§ 5-1-256. FUNDS—EXPENSE FUND.

The Expense Fund shall be the Fund to which shall be credited all money provided by the employer to pay the administration expenses of the Retirement System and from which shall be paid all the expenses necessary in connection with the administration and operation of the System. Annually, the Board of Trustees shall estimate the amount of money, not in excess of five-tenths of one percent of the payroll of members, which shall be deemed necessary to be paid into the Expense Fund during the ensuing year to provide for the expense of operation of the Retirement System, and such amount shall be paid to the Expense Fund for this purpose.

(1988 Code, § 23-94) (Bill No. 32-03, § 1, 7-1-2004)