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District of Columbia Code Division I. Government of District. § 1-713. District of Columbia Teachers' Retirement Fund.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a)(1) There is established a fund to be known as the District of Columbia Teachers' Retirement Fund into which shall be deposited the following, which shall constitute the assets of the Fund:

(A) Any amount paid to the Custodian of Retirement Funds pursuant to § 38-2021.01 et seq., or under § 38-2061.02;

(B) Any asset transferred to such Fund under subsection (b) of this section;

(C) Any amount appropriated for such Fund under subchapter III of this chapter; and

(D) Any return on investment of assets of such Fund.

(2) Annuities and other retirement and disability benefits (including refunds and lump-sum payments) payable from the District of Columbia Teachers' Retirement and Annuity Fund established by § 38-2021.02 shall continue to be paid from such Fund until all amounts in such Fund have been expended or transferred under subsection (b) of this section to the District of Columbia Teachers' Retirement Fund, and thereafter such benefits shall be paid from the District of Columbia Teachers' Retirement Fund.

(b) Notwithstanding any other provision of law, any asset held in the District of Columbia Teachers' Retirement and Annuity Fund established by § 38-2021.02 may be transferred to the District of Columbia Teachers' Retirement Fund established by subsection (a) of this section.

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Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 1-713. District of Columbia Teachers' Retirement Fund. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-1-713/

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