1946 (#3429-3537) - Laserfiche WebLink

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or less frequent installments as Board shall require, for a period of 2~ yea~s, on account of the liability for benefits based on service rendered to Public ~ency prior to the effective date hereof. b. ~9~7 per cent of total salaries paid by Public Agency each monthto its employees who are members of said Retire- ment System, provided that only salary earned as members of said System shall be included in said total salaries, and the employees who are members of said System shall in- clude employees who become members upon the effective date hereof and employees who become members thereafter. c. A reasonable amount per annum, as fixed by Board, payable in equal monthly or less frequent installments, as Board shall require, to cover the costs of administering said System as it a£fects the employees of Public Agency, no~ including the costs of special valuations or of the periodi- cal investigation and valuation required by law, provided that said amount shall be determined on the basis of the number of employees of Public Agency who are members on July 1st of the respective fiscal years, or with respect to the first year of participation, on the effective date of said participation- d. A reasonable amount as fixed by the Board, payable in one installment from time to time as the occasions arise, to cover the costs of special valuations on account of em- ployees of Public Agency, and the costs of the periodical investigation into the experience under said Retirement