86.343. Annual expenses--city, board each provide one-half--board, duties.
Annual expenses--city, board each provide one-half--board, duties.
86.343. 1. The costs of special personal service, financialadvisers, special consultants, and office supplies and equipment shall beborne by the board of trustees.
2. Annually the board of trustees shall estimate the amount of moneynecessary to provide for the expense of the administration and operation ofthe retirement system for the ensuing year, excluding those items the costof which the board is to bear pursuant to subsection 1. Fifty percent ofthe estimate shall be provided by the city and the remaining fifty percentshall be provided by the board of trustees from interest and other earningson assets.
3. Annually, the board of trustees shall estimate the amount of moneynecessary to be paid into a board of trustees account during the ensuingyear to provide for the expenses of the retirement system for the cost ofspecial personal service, financial advisers, special consultants, andoffice supplies and equipment.
(L. 1947 p. 256 § 47, A.L. 1965 p. 201, A.L. 1983 H.B. 664, A.L. 2000 H.B. 1808)Effective 7-1-00