§88-116  Expense fund.  The expense fund
shall be the fund to which shall be credited all money to pay the
administration expenses of the system, and from which shall be paid all the
expenses necessary in connection with the administration and operation of the
system.  Biennially, the board of trustees shall estimate the amount of money
necessary to be paid into the expense fund during the ensuing biennium to
provide for the expense of operation of the system, and shall pay that amount
into the expense account from the investment earnings of the system, subject to
review by the legislature and approval by the governor. [L 1925, c 55, §8(5);
am imp L 1927, c 251, §4; RL 1935, pt of §7927; RL 1945, §712, subs 5; RL 1955,
§6-96; am L Sp 1959 1st, c 13, §2; HRS §88-107; am L 1969, c 110, pt of §1; am
L 1994, c 276, §8]