Sec. 25. OTHER EXPENSES. (a) Except as provided by Subsection (b) of this section, a board of trustees established under this Act may pay from assets of the fund all costs reasonably and lawfully incurred by the retirement system and the costs of actual expenses incurred by board members in the performance of their duties on the board. A member of the board may not receive compensation for service on the board.
(b) The annual amount of payments from a fund under this section, excluding legal and medical fees, may not exceed:
(1) 1 percent of the market value of the assets of the fund for the first $1 million in market value; and
(2) 1/4 of 1 percent of the market value of the assets of the fund that exceeds $1 million.
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