LegalFix
Sign In

Section 45-21-42.1.1 Payment of administrative expenses of the retirement board and maintaining the retirement system - Restricted receipt account.

RI Gen L § 45-21-42.1.1 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

§ 45-21-42.1. Payment of administrative expenses of the retirement board and maintaining the retirement system - Restricted receipt account. There is transferred to the restricted receipt account established in § 36-8-10.1 up to a maximum of seventeen and one-half (17.5) basis points (0.175%), where one hundred (100.0) basis points equals one percent (1.0%), of the average total investments before lending activities of the municipal employees' retirement system of the state of Rhode Island as reported in the annual report of the auditor general for the next preceding five fiscal years.

History of Section. (P.L. 1985, ch. 181, art. 7, § 2; P.L. 1986, ch. 287, art. 10, § 2; P.L. 2003, ch. 376, art. 25, § 2.)

Previous Section
Section 45-21-42.1 Contributions by municipalities. [Effective July 1, 2020.]
Next Section
Section 45-21-42.2 Fiscal impact of proposed legislation impacting the retirement system.