All of the assets of the retirement system shall be credited according to the purpose for which they are held among three funds, to be known as the "annuity savings fund," the "pension accumulation fund," and the "expense fund."
(Ga. L. 1943, p. 640, § 8; Ga. L. 1962, p. 723, § 1.)
OPINIONS OF THE ATTORNEY GENERAL
County and state contribute to teacher retirement fund of dual agent.
- If the county pays any part of the county agent's salary, even though the agent is assigned to the county by the agricultural (cooperative) extension service of the university, the county agent would be the employee of the university system and of the county, and, under the terms of Ga. L. 1943, p. 640 (see O.C.G.A. Ch. 3, T. 47), the university system and the county would both be required to contribute to the reserve fund from which teacher retirement benefits are paid. 1948-49 Op. Att'y Gen. p. 528.