Notwithstanding anything to the contrary in this subdivision, the retirement system shall not be liable for the payment of any retirement allowance or other benefits on account of the employees or beneficiaries of any employer for which reserves have not been previously created from funds contributed by such employer, or its employees, for such benefits.
Source. 1967, 134:1, eff. July 1, 1967.
Notwithstanding anything to the contrary in this subdivision, the retirement system shall not be liable for the payment of any retirement allowance or other benefits on account of the employees or beneficiaries of any employer for which reserves have not been previously created from funds contributed by such employer, or its employees, for such benefits.
Source. 1967, 134:1, eff. July 1, 1967.
Notwithstanding anything to the contrary in this subdivision, the retirement system shall not be liable for the payment of any retirement allowance or other benefits on account of the employees or beneficiaries of any employer for which reserves have not been previously created from funds contributed by such employer, or its employees, for such benefits.
Source. 1967, 134:1, eff. July 1, 1967.
