(1) There is created and established in each employer having fire department old hire members, a pension fund to be known as the "firefighters' old hire pension fund".
(2) There is created and established in each employer having police department old hire members, a pension fund to be known as the "police officers' old hire pension fund".
Source: L. 96: Entire article added with relocations, p. 858, § 1, effective May 23.