TITLE 47 RETIREMENT AND PENSIONS

Section 3. Teachers Retirement System of Georgia, 47-3-1 through 47-3-142.

ARTICLE 3 EMPLOYEE AND EMPLOYER CONTRIBUTIONS; CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES

47-3-44. Crediting to pension accumulation fund; annual transfer from pension accumulation fund to provide regular interest.

All interest and dividends earned on the funds of the retirement system shall be credited to the pension accumulation fund. Once each year the board of trustees shall transfer from the pension accumulation fund to the annuity savings fund such amounts as are sufficient to allow regular interest on the balances of the individual accounts of members in the annuity savings fund.

(Ga. L. 1943, p. 640, § 8; Ga. L. 1962, p. 723, §§ 5, 8.)