§ 45-21-42.1 - Payment of administrative expenses of the retirement board and maintaining the retirement system – Restricted receipt account.
SECTION 45-21-42.1
§ 45-21-42.1 Payment of administrativeexpenses 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%), ofthe average total investments before lending activities of the municipalemployees' retirement system of the state of Rhode Island as reported in theannual report of the auditor general for the next preceding five fiscal years.