The maintenance of annuity reserves and pension reserves, the crediting of regular interest to the annuity savings fund under Code Section 47-2-55, and the payment of all pensions, annuities, retirement allowances, refunds, and other benefits granted under this chapter shall be obligations of the pension accumulation fund, except as provided in paragraph (3) of subsection (c) of Code Section 47-2-128. All assets of the pension accumulation fund and all income, interest, and dividends derived from deposits and investments shall be used for the payment of such obligations and for no other purposes.
Section: Previous 47-2-50 47-2-51 47-2-52 47-2-53 47-2-54 47-2-55 47-2-56 47-2-57 47-2-58 47-2-59 47-2-60 NextLast modified: October 14, 2016