Pennsylvania Statutes Title 24 P.S. Education § 22-2201. Establishment of funds by districts

The board of school directors of any district is hereby authorized and empowered to establish, contribute to, and administer as herein provided, a teachers' retirement fund. The fund shall consist of all funds available for like purposes in the district at the time of the enactment of this law, together with such additions thereto as the board of school directors may, from time to time, appropriate for that purpose from the funds of the district, and such moneys or other property as may be donated, bequeathed, devised, or received from any other source for such purpose.

The board of public education of any district of the first class is hereby authorized and empowered to establish, contribute to, and administer as herein provided, in addition to the foregoing fund, an employes' retirement fund. This fund shall consist of all funds available for like purposes in said district at the time of the enactment of this act,  1 together with such additions thereto as the board of public education may, from time to time, appropriate for that purpose from the funds of the district, and such real or personal property as may be donated, bequeathed, devised, or received from any other source, for such purpose.