Retirement fund for teachers

(a) The Teachers’ 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 to the Retirement Board pursuant to subchapter II of Chapter 20 of Title 38, or pursuant to § 38-2061.02; (2) Any asset transferred to the fund under subsection (b) of this section; (3) Any amount appropriated by the District government for the fund in accordance with § 1-905.02; and (4) Any return on investment of assets of the fund. (b) After June 30, 1997, annuities and other retirement and disability benefits (including refunds and lump-sum payments) for the benefits of covered teachers shall become assets of the fund.