The retirement fund of each participating employee of the authority shall remain with the Montgomery Housing Authority Retirement System, unless the authority creates its own retirement system and, if so, the existing retirement fund of each participating employee of the authority shall be transferred to the new retirement system created by the authority.
Ala. Code § 45-51A-32.69
Retention and Transfer of Retirement Funds.
(Act 2013-326, p. 1144, § 10.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.