Administrative expenses; proration

Sec. 5. (a) Each public pension and retirement fund of the system shall pay the expenses of administration attributable to that public pension or retirement fund. (b) The board shall: (1) prorate the expenses of administration of the system that cannot be attributed to a particular public pension or retirement fund and the bond of the director among; and (2) pay the prorated expenses from; the public pension and retirement funds of the system. As added by P.L.23-2011, SEC.22.