86.248. Assets of fund retained for benefit of members.
Assets of fund retained for benefit of members.
86.248. All assets of the retirement system, including investmentincome, shall be retained for the exclusive benefit of members and theirbeneficiaries and shall be used to pay benefits or administrative expensesof the system and shall not revert to or inure to the benefit of any otherperson or entity prior to the termination of the retirement systemestablished pursuant to sections 86.200 to 86.366, and the satisfaction ofall benefit liabilities under such retirement system.
(L. 1995 H.B. 260, et al. § 5, A.L. 2000 H.B. 1808)Effective 7-1-00