(1) Whenever the average yield on investments of public retirement funds under the
board of investments exceeds by 1% in any fiscal year the average yield on investments
of the fund made pursuant to 19-18-402, the surplus money in the fund must be remitted to the state treasurer for investment
under the direction of the board of investments as is provided in 17-6-204. The board of investments shall advise the association of the current yield on investments
of public retirement funds.
(2) As used in subsection (1), “surplus money” means the excess over the greater of
(a) 1 1/2 times the monthly benefit paid in the preceding month; or
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