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District of Columbia Code Division I. Government of District. § 1-903. Retirement fund for police officers and fire fighters.

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

(a) The Police Officers and Fire Fighters' Retirement Fund shall continue in existence and shall be the fund into which the following deposits shall be made, which shall constitute the assets of the fund:

(1) Any employee contribution amount paid after June 30, 1997, to the Retirement Board pursuant to § 5-741 or § 5-704(e)(1) or § 5-706(a), respectively;

(2) Any amount appropriated by the District government for the fund in accordance with § 1-905.02;

(3) Any return on investment of the assets of the fund;  and

(4) The amount derived from the $1.275 billion of designated assets provided for pursuant to § 1-807.03.

(b) After the 30-day period following October 1, 1997, or after the end of the 30-day period beginning on the date on which funds are first appropriated to the Police Officers and Fire Fighters' Retirement Fund for Fiscal Year 1998, whichever is later, all payments of annuities and other retirement and disability benefits (including refunds and lump-sum payments) under the Police and Firemen's Retirement Act shall be made from the Fund (except for any such payment which is made to an officer or member of the United States Park Police force, the United States Secret Service Uniformed Division, or the United States Secret Service, or to a beneficiary of any such officer or member).

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Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 1-903. Retirement fund for police officers and fire fighters. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-1-903-01/

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