95.900 Allocation of units of participation. - Kentucky Statutes

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95.900 Allocation of units of participation. The purposes of the fund shall be to enable each participant to enhance its investment
power through aggregation of its resources with the resources of other participants, and to
avail itself of options for centralized administrative and accounting services relating to
pension system management. Participants shall be allocated units of participation in the
fund representing the value of assets which they invest in the fund. Earnings of the fund
shall be allocated to participants uniformly on the basis of degree of ownership of units of
participation. There shall be no sharing of the pension liabilities of the various
participants within the framework of the fund. Effective: July 15, 1980
History: Created 1980 Ky. Acts ch. 307, sec. 3, effective July 15, 1980.