The state shall pay benefits under this chapter to all district attorneys who are eligible for retirement under this chapter without regard to the sufficiency of the fund to pay such benefits, provided that prior to any withdrawal against general funds of the state for payment of benefits, all interest and moneys earned and accumulated by investment pursuant to Code Section 47-12-23 shall first be disbursed as benefits.
(Ga. L. 1949, p. 780, § 13; Ga. L. 1964, p. 214, § 1.)
OPINIONS OF THE ATTORNEY GENERAL
O.C.G.A. § 47-12-100 is specific direction as to the purpose for which the earnings of the fund may be spent. 1982 Op. Att'y Gen. No. 82-100.
Transfer of earnings to other uses.- Earnings of the Superior Court Judges Retirement Fund and the District Attorneys Retirement Fund of Georgia cannot be transferred to the 1983 Superior Court Budget Fund for operations because using these funds for any other purpose than to insure payment of benefits would constitute a serious breach of fiduciary duty of the trustees of such funds who are limited to the powers given the trustees by statute. 1982 Op. Att'y Gen. No. 82-100.
RESEARCH REFERENCES
Am. Jur. 2d.
- 60A Am. Jur. 2d, Pensions and Retirement Funds, § 1174 et seq.
C.J.S.- 70 C.J.S., Pensions, § 8.