A. The accounting funds of the association are the "member contribution fund", "employers accumulation fund", "retirement reserve fund" and "income fund". The maintenance of separate accounting funds shall not require the actual segregation of the assets of the association among the various funds.
B. The accounting funds provided for in Subsection A of this section are trust funds and shall be used only for the purposes provided in the Public Employees Retirement Act.
History: Laws 1987, ch. 253, § 123.
ANNOTATIONSSegregation and allocation of investments. — There is no statutory requirement that the various funds be segregated as to investments, and no prohibition against the allocation of a share of an investment to each of the several funds. 1958 Op. Att'y Gen. No. 58-172.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 81A C.J.S. States §§ 46, 112 to 119, 223, 224, 229.