The expense fund shall be the fund to which shall be credited all money provided to pay the administration expenses of the retirement system and from which shall be paid all the expenses necessary in connection with the administration and operation of the system. Annually the board of trustees shall estimate the amount of money necessary to be paid into the expense fund during the ensuing year to provide for the expense of operation of the retirement system. Such estimate shall be provided by the board of trustees from interest and other earnings on assets of the retirement system. In no event shall any expenses, including administrative expenses, incurred by the board of trustees in the administration of any pension plan other than the retirement system or in the investment of any funds of any pension plan other than the retirement system be paid from the funds of the retirement system. Such expenses shall be paid entirely from the funds of the other pension plan.

(L. 1943 p. 708 § 8, A.L. 1959 S.B. 314 § 86.613, A.L. 1965 p. 214, A.L. 2025 H.B. 147 merged with H.B. 225 merged with S.B. 271)