87.285. Assets in four funds--names of.
Assets in four funds--names of.
87.285. All the assets of the retirement system shall becredited according to the purpose for which they are held to oneof four funds; namely, the members' savings fund, the benefitreserve fund, the general reserve fund, and the expense fund.The board of trustees is authorized to transfer and close out thefund accounts as provided prior to the effective date of sections87.120 to 87.370 into the appropriate fund accounts provided bysections 87.120 to 87.370.
(L. 1943 p. 708 § 8, A.L. 1959 S.B. 314 § 86.565)