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Annuity reserve account - 24 Pa. Cons. Stat. § 8525

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     § 8525.  Annuity reserve account.
        (a)  Credits and charges to account.--The annuity reserve
     account shall be the ledger account to which shall be credited
     the reserves held for the payment of annuities and death
     benefits on account of all annuitants and the contributions from
     the Commonwealth and other employers as determined in accordance
     with section 8328 (relating to actuarial cost method) for the
     payment of the supplemental annuities provided in sections 8348
     (relating to supplemental annuities), 8348.1 (relating to
     additional supplemental annuities), 8348.2 (relating to further
     additional supplemental annuities), 8348.3 (relating to
     supplemental annuities commencing 1994), 8348.4 (relating to
     special supplemental postretirement adjustment), 8348.5
     (relating to supplemental annuities commencing 1998), 8348.6
     (relating to supplemental annuities commencing 2002) and 8348.7
     (relating to supplemental annuities commencing 2003). The
     annuity reserve account shall be credited with valuation
     interest. After the transfers provided in sections 8523
     (relating to members' savings account) and 8524 (relating to
     State accumulation account), all annuity and death benefit
     payments shall be charged to the annuity reserve account and
     paid from the fund.
        (b)  Transfers from account.--Should an annuitant be
     subsequently restored to active service, the present value of
     his member's annuity at the time of reentry into school service
     shall be transferred from the annuity reserve account and placed
     to his individual credit in the members' savings account. In
     addition, the actuarial reserve for his annuity less the amount
     transferred to the members' savings account shall be transferred
     from the annuity reserve account to the State accumulation
     account.
     (Aug. 5, 1991, P.L.183, No.23, eff. imd.; June 18, 1998,
     P.L.685, No.88, eff. imd.; May 17, 2001, P.L.26, No.9, eff. July
     1, 2001; Apr. 23, 2002, P.L.272, No.38, eff. imd.)

        2002 Amendment.  Act 38 amended subsec. (a).
        Cross References.  Section 8525 is referred to in sections
     8522, 8523 of this title.

Last modified: November 27, 2007