Title 36

(a) There is created the State Employee Retirees’ Trust Fund evidenced by a written trust instrument, the terms and conditions of which shall be determined by the Board of Control creating the trust fund. (b) The trust shall be managed and controlled by its trustees. The trustees…

(a) A trustee may not be any of the following: (1) Personally liable for any liability, loss, or expense suffered by the trust fund, unless the liability, loss, or expense arises out of, or results from, conduct described in Section 36-1-12. (2) Responsible for the adequacy of th…

(a) The board of control, through the trustees, shall have all powers necessary for the management and control of the trust fund and to carry out and effectuate the purposes of this chapter including, but not limited to, the following: (1) To adopt, alter, and repeal rules for th…

(a)(1) The sources of funding to the trust fund may consist of all of the following: a. Investment income. b. Proceeds of any gifts, grants, or contributions. c. Revenue sources as directed by the Legislature. d. Revenue sources other than direct appropriations by the Legislature…

(a) It is the intent of the Legislature that the State Employees’ Retirement System invest the funds of the trust fund and the trustees operate the trust fund in compliance with the Internal Revenue Code in a manner that could allow the trust fund to maximize investment earnings …

Nothing in this chapter shall be construed to define or otherwise grant any right or privilege to periodic bonus checks or other pension benefits to any person other than those periodic bonus checks, rights, and privileges previously or already granted to employees and retired em…