The board of trustees of state institutions of higher learning is hereby authorized to establish and maintain a system of retirement for the employees of the agricultural and forestry experimental station and extension service, out of any federal funds available under the provisions of the act of congress, approved March 4, 1940, and out of contributions made by the employees of such experimental station and extension service.
In the establishment of such special retirement system, the board of trustees of state institutions of higher learning shall have full authority to make all needful rules and regulations, to carry into effect the provisions of this section.
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