Chapter 3.31
LEOFF 1 POST-RETIREMENT BENEFITS FUND1

Sections:

3.31.010    Fund created.

3.31.020    Accounting.

3.31.030    Use restricted.

3.31.010 Fund created.

There is created a special fund 601 LEOFF 1 post-retirement benefits fund that shall be used for the accumulation of reserves for the financing of future benefit payments in excess of insurance coverage for law enforcement officers and firefighters under the law enforcement officers and firefighters Plan 1 during the period of retirement. Such reserves are in order so that sufficient funds will be available on the date of retirement of each member to pya the member’s future benefits. (Ord. 1268 § 2, 2001).

3.31.020 Accounting.

The city shall keep such books, accounts, and records necessary to administer and report the financial activities of the LEOFF 1 post-retirement benefits fund. (Ord. 1268 § 3, 2001).

3.31.030 Use restricted.

Any withdrawals or expenditures from said LEOFF 1 post-retirement benefits fund shall be made only upon approved vouchers of the city for the purpose established for said fund. (Ord. 1268 § 4, 2001).

1

Code reviser’s note: Ordinance No. 1268 added this chapter as Chapter 3.30 OHMC. It has been editorially renumbered to prevent duplication of numbering.