A relief association has authority to deposit membership dues in its special fund if the bylaws specify that the dues are payable as contributions to the special fund. If a relief association wishes to deposit membership dues in the special fund, the bylaws should clearly reflect this intent. If dues are collected from members but the bylaws do not specify which fund should receive the revenue, the dues should be deposited into the general fund.
Note that relief associations are not required to collect dues from their members.
The OSA’s Sample Bylaw Guides provide sample language that may be used to authorize the deposit of membership dues in the special fund (see Article II).
Published last in the August 2020 Pension Newsletter