Use of monies in public employee retirement funds restricted?

All monies from any source paid into any public employee retirement system created by the laws of this state shall be used only for the benefit of the members, retirees and beneficiaries of that system, including the payment of system administrative costs.

what does this mean?

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  • 4 weeks ago

    It means "All monies from any source paid into any public employee retirement system created by the laws of this state shall be used only for the benefit of the members, retirees and beneficiaries of that system, including the payment of system administrative costs." I can't put it any more simply or clearly.

  • 4 weeks ago

    Essentially it means that the fund is financially "ring-fenced" and cannot be robbed! You can bet the bastards are looking for ways round it!

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