HRS §88-116
Expense fund
This section sets up a special fund for the retirement system's day-to-day running costs. The board must estimate needed money every two years and put that amount into the fund from investment earnings, with state approval.
state agencies
The statute, as written — 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.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.