Port Orange |
Code of Ordinances |
Chapter 54. PERSONNEL |
Article VI. 2003 GENERAL EMPLOYEES' RETIREMENT SYSTEM |
§ 54-163. City's contributions irrevocable.
Latest version.
The city shall have no right, title or interest in the trust fund or in any part thereof, and no contributions made thereto shall revert to the city except such part of the trust fund, if any, which remains therein after the satisfaction of all liabilities to persons entitled to benefits under the plan, as described in section 54-171(d) hereof with respect to termination of the plan.
(Ord. No. 2003-27, § 1, 7-15-03)