§ 31-65. Retirement and benefits reserve.

(a)

All of the assets of the fund shall be held in a retirement and benefits reserve, in which shall be accumulated all assets transferred from any predecessor fund, all contributions made pursuant to this division or any other provision of this article, all receipts from purchases of credited service by members, and to which all income from the invested assets of the fund shall be credited. From this reserve shall be paid the retirement allowances and the other benefits of the fund as provided for in this article, as well as the expenses provided for in section 31-80 and section 31-81.

(b)

The annual contributions to the reserve shall be determined in accordance with the provisions of this division.

(Ord. No. 51, § 6; Ord. No. 991, § 1; Code 1961, § 32-12; Ord. No. 2364; Ord. No. 2379; Ord. No. 2709-80; Ord. No. 6434-07, § 1)

(Ord. No. 51, § 6; Ord. No. 991, § 1; Code 1961, § 32-12; Ord. No. 2364; Ord. No. 2379; Ord. No. 2709-80; Ord. No. 6434-07, § 1)