§ 79-974 — Expense Fund; created; use

The Expense Fund is created and is the fund to which shall be credited the proportionate share of administration expense transferred from the Contingent Account at the direction of the retirement board. The Expense Fund shall be credited with money from the retirement system assets and income sufficient to pay the pro rata share of administrative expenses incurred as directed by the board for the proper administration of the School Employees Retirement Act and necessary in connection with the administration and operation of the retirement system. Annually, as soon after July 1 as is practicable, the retirement board shall estimate the amount of money which is deemed necessary to be paid into the Expense Fund for that fiscal year.

Legislative History

Source: Laws 1945, c. 219, § 51, p. 655; R.S.Supp.,1947, § 79-2951; Laws 1949, c. 256, § 484, p. 857; Laws 1971, LB 987, § 29; Laws 1988, LB 1170, § 18; R.S.1943, (1994), § 79-1550; Laws 1996, LB 900, § 609; Laws 2001, LB 408, § 18; Laws 2005, LB 364, § 10.