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5-6   PENSIONS, RETIREMENT ALLOWANCES AND ANNUITIES.
5-6.1   Pension Reserve Fund.
   In order to provide reserves that may be used to offset the anticipated future costs of funding the contributory retirement systems of the city, the Boston City Council by majority vote, upon the request of the Mayor, may appropriate in any fiscal year an amount or amounts in the aggregate in any one year not exceeding 5% of the real and personal property tax levy of the next preceding fiscal year. All amounts so appropriated shall be credited to the Pension Reserve Fund established hereby (the “fund”) of the system provided for in Section 22 of the Pension Act. Notwithstanding the foregoing, the aggregate amount of deposit in such fund at any time shall not exceed 10% of the equalized valuation of the city, as defined in M.G.L. Chapter 44, Section 1, as last determined in accordance with law.
(Ord. 1984 c. 1; CBC 1985 5-6.1)
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