lol asked in Politics & GovernmentPolitics · 1 month ago

In layman's terms please?

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.

1 Answer

  • Chris
    Lv 6
    1 month ago

    If you are running this pension fund, and you have a wayward Cousin Vinny who needs some money for narcotics or whatever, you can give him money from the pension fund if you call it a “system administrative cost”.

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