Deposit investment and payment of funds. (1) All employer and employee contributions and other moneys received or collected by the Public Employees Retirement Board under ORS 237.410 to 237.510 shall be deposited into the State Treasury to the credit of an account, separate and distinct from the General Fund, to be known as the Social Security Revolving Account, and the moneys in the account are continuously appropriated for the purposes of ORS 237.410 to 237.510

(2) All moneys in the account shall be held in trust and invested as provided in ORS 293.701 to 293.857. Interest from such investments shall be used for paying the administrative expenses described in ORS 237.500. [Amended by 1953 c.192 §5(1); 1967 c.399 §§2,6; 1975 c.614 §6; 1989 c.966 §11; 2001 c.716 §22; 2023 c.82 §1]