District of Columbia Code Division VI. Education, Libraries, and Cultural Institutions. § 38-2001.02. Annuity--Deposit in United States Treasury.
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The amount so deducted and withheld from the annual salary of every teacher shall be deposited in the Treasury of the United States and shall be credited, together with interest at 4% per annum, compounded annually, to an individual account of the teacher from whose salary the deduction is made, which account shall be kept by the Auditor of the District of Columbia. The fund thus created shall be held and invested by the Treasurer of the United States until paid out as hereinafter provided, and the income derived from such investments shall constitute a part of said fund for the purpose of carrying out the provisions of this subchapter.
Cite this article: FindLaw.com - District of Columbia Code Division VI. Education, Libraries, and Cultural Institutions. § 38-2001.02. Annuity--Deposit in United States Treasury. - last updated January 01, 2020 | https://codes.findlaw.com/dc/division-vi-education-libraries-and-cultural-institutions/dc-code-sect-38-2001-02/
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