Court Opinions

State Laws

US Code

US Constitution

Annuity reserve account - 71 Pa. Cons. Stat. § 5935

Legal Research Home > Pennsylvania Statutes

     § 5935.  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 payment of annuities and death benefits on
     account of all annuitants except in the case of members who are
     officers of the Pennsylvania State Police or enforcement
     officers. The annuity reserve account shall be credited with
     valuation interest. After the transfers provided in sections
     5933 (relating to members' savings account), 5934 (relating to
     State accumulation account) and 5938 (relating to supplemental
     annuity account), all annuity and death benefit payments except
     those payable to any member who retires as an officer of the
     Pennsylvania State Police or an enforcement officer shall be
     charged to the annuity reserve account and paid from the fund.
        (b)  Transfers from account.--Should an annuitant other than
     a member who was retired as an officer of the Pennsylvania State
     Police or an enforcement officer be subsequently restored to
     active service, the present value of his member's annuity at the
     time of reentry into State 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.

        Cross References.  Section 5935 is referred to in sections
     5932, 5933, 5934, 5938 of this title.

Last modified: November 27, 2007