Creation, Administration, and Management of the Assets of the Retirement System 47-3-20

47-3-24. 47-3-25. 47-3-26. 47-3-27. sale, garnishment, and other process; assignability; exemptions for other retirement systems; assets and investments and their transfer or sale exempted. Deduction of membership dues of nonprofit organizations from benefit payments. Article 3 Creation and management of the Teachers Retirement System of Georgia; its powers and privileges; name under which business transacted. Creation and membership of board of trustees; filling of vacancies; per diem, expenses, and oath of office; quorum; creation, membership, and duties of Teachers Retirement System Nomination Committee. Election of chairman and executive director of the board of trustees; payments by executive director of retirement system funds; surety bond required of executive director. Designation and duties of an actuary for the board of trustees; periodic actuarial investigation and recommendations; calculation tables and regular interest rate; annual valuation. Legal adviser of the board of trustees. Medical board; designation; duties regarding medical examinations required under this chapter. Powers and duties of the board of trustees generally. Investment powers; power to maintain cash on deposit for payments under the retirement system; personal interests in investments prohibited. Rights exempted from levy and Employee and Employer Contributions; Creation of Funds for Contributions, Benefits, and Administrative Expenses 47-3-40. 47-3-41. 47-3-41.1. 47-3-42. 47-3-43. 47-3-44. 47-3-46. 47-3-47. 47-3-48. 241 Funds in which assets of the retirement system are to be held. Annuity savings fund generally. Payment of employee contributions by employers; mandatory nature; vesting. Employer’s duty to deduct, collect, and remit employee contributions; effect of failure to deduct, collect, and remit such contributions. Pension accumulation fund generally. Crediting to pension accumulation fund; annual transfer from pension accumulation fund to provide regular interest. Obligations of the pension accumulation fund; permissible uses of the assets of the pension accumulation fund and of income, interest, and dividends. Date on which contributions to the retirement system are to commence. Purpose of the expense fund. Certification to employers of normal and accrued liability contribution rates; estimates by employers of contributions for coming year; requests for appropriations. Effective date of chapter; effect Sec. Sec. of appropriation of funds on the obligation to make employee and employer contributions to the retirement system. Article 4 47-3-82.