(a) No portion of the pension and relief fund for paid nonuniformed employees shall at any time be subject to seizure or to be levied on under any process whatsoever for the payment of any claim or debts held against any disabled or retired employee or the surviving spouse, dependent parent, or minor children under sixteen (16) years of age of a deceased or retired employee.
(b) The fund shall be securely held and distributed for the purpose of pensioning the persons mentioned in this act and for no other person or purpose whatsoever.