Pennsylvania Code
Title 16 - COMMUNITY AFFAIRS
Part III - Municipal Retirement Board
Chapter 81 - GENERAL PROVISIONS
Section 81.9 - Management and investment of Fund; interest credits

Universal Citation: 16 PA Code ยง 81.9

Current through Register Vol. 54, No. 12, March 23, 2024

(a) The Board will have the exclusive responsibility to manage the Fund with full power to invest the moneys therein, subject to the terms, conditions, limitations and restrictions imposed by law upon fiduciaries. The assets of the Fund shall be held in trust. No part of the assets of the Fund will be used for or diverted to purposes other than for the exclusive benefit of the members, their spouses or the member's beneficiaries prior to the satisfaction of all liabilities of the Fund with respect to them, provided that the Fund shall be used to pay reasonable administrative expenses of the System.

(b) The Board may take action necessary and appropriate to facilitate the purchase, sale and custody of Fund assets.

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