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95.900 Allocation of units of participation.

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95.900 Allocation of units of participation. The purposes of the fund shall be to enable each participant to enhance its investment <br>power through aggregation of its resources with the resources of other participants, and to <br>avail itself of options for centralized administrative and accounting services relating to <br>pension system management. Participants shall be allocated units of participation in the <br>fund representing the value of assets which they invest in the fund. Earnings of the fund <br>shall be allocated to participants uniformly on the basis of degree of ownership of units of <br>participation. There shall be no sharing of the pension liabilities of the various <br>participants within the framework of the fund. Effective: July 15, 1980 <br>History: Created 1980 Ky. Acts ch. 307, sec. 3, effective July 15, 1980.