Viewing an earlier, undated versionView current - (a) A participants' savings fund is hereby created. This fund shall be maintained by the board as a trust fund, separate and distinct from all other entities for the purpose of securing payment of benefits to participants and their surivors, as hereinafter provided.
(b) The participants' savings fund shall consist of the following:
- (1) each participant's contributions to the fund;
- (2) all gifts, grants, devises and bequests in money, property, or other form which may be made to the fund;
- (3) all interest on investments or on deposits of the fund;
- (4) all contributions or payments to the fund made in any manner provided by the General Assembly, including appropriations from the general fund of the state; and
(5) any funds transferred to the fund from the public employees' retirement fund under the provisions of section 6 of this chapter.
Formerly: Acts 1972, P.L.1, SEC.1.