O.C.G.A.

O.C.G.A. § 47-3-40 (2019)

Funds in which assets of the retirement system are to be held

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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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.’’

History

(Ga. L. 1943, p. 640, § 8; Ga. L. 1962, p. 723, § 1.)

Annotations

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.