(a) The Retirement Board shall determine the amount of any payments for annuities or other retirement or disability benefits (including refunds and lump-sum payments) required to be made from the trust assets of the Police Officers and Fire Fighters' Retirement Fund or the Teachers' Retirement Fund. The Retirement Board shall make the payments from the appropriate fund.
(b) Once authorized pursuant to the appropriation process, the Retirement Board may make payments from the Funds sufficient to cover the cost of the management of the assets and the reasonable and necessary administrative expenses of the Retirement Board, including trustee and staff compensation, and liability insurance.
CREDIT(S)
(Sept. 18, 1998, D.C. Law 12-152, § 114, 45 DCR 4045; Apr. 13, 2005, D.C. Law 15-354, § 4(a), 52 DCR 2638; Apr. 7, 2006, D.C. Law 16-91, § 126, 52 DCR 10637.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 1-782.4.
Effect of Amendments
D.C. Law 15-354, in subsec. (a), substituted “The Retirement Board shall determine the amount of” for “The Mayor shall notify the Retirement Board”.
D.C. Law 16-91, in par. (a), validated a previously made technical correction.
Legislative History of Laws
For legislative history of D.C. Law 12-152, see Historical and Statutory Notes following § 1-901.01.
For Law 15-354, see notes following § 1-523.01.
For Law 16-91, see notes following § 1-301.45.
Miscellaneous Notes
Application of Law 12-152: See Historical and Statutory Notes following § 1-901.01.