(A) No part of the net earnings of the fund may inure to the benefit of any participant or retiree other than by benefit payment; or for services provided to the trustees in the administration of the fund. The fund assets shall not be used for or diverted to purposes other than to provide the benefits contemplated under this chapter for the exclusive benefit of retirees except any administrative expenses for which the fund is liable. A portion of net earnings may be used for payment of reasonable and necessary professional services, costs and expenses related to assisting the trustees and Fund Administrator in the operation of the fund.
(B) All income, profits, recoveries, contributions, forfeitures and any and all monies, securities and properties of any kind at any time received or held by the trustees hereunder shall become part of the fund when received and shall be held for the use and purposes hereof.
(Ord. 886, passed 11-11-02)