67-19d-201.5. Elected Official Post-Retirement Benefits Trust Fund -- Creation -- Oversight -- Dissolution.
(1) There is created the "Elected Official Post-Retirement Benefits Trust Fund."
(2) The Elected Official Post-Retirement Benefits Trust Fund consists of: appropriations made to the fund by the Legislature for the purpose of funding the post-retirement benefits in Section; 49-20-404 revenues received by the state treasurer from the investment of the Elected Official Post-Retirement Benefits Trust Fund; and other revenues received from other sources.
(3) The Division of Finance shall account for the receipt and expenditures of money in the Elected Official Post-Retirement Benefits Trust Fund.
(4) Except as provided in Subsection, the state treasurer shall invest the Elected Official Post-Retirement Benefits Trust Fund money by following the same procedures and requirements for the investment of the State Post-Retirement Benefits Trust Fund in. (4)(c) Part 3, Trust Fund Investments The Elected Official Post-Retirement Benefits Trust Fund shall earn interest. The state treasurer shall deposit all interest or other income earned from investment of the Elected Official Post-Retirement Benefits Trust Fund back into the Elected Official Post-Retirement Benefits Trust Fund. The Elected Official Post-Retirement Benefits Trust Fund is exempt from. Title 51, Chapter 7, State Money Management Act
(5) The board of trustees created in Sectionmay expend money from the Elected Official Post-Retirement Benefits Trust Fund for: 67-19d-202 the employer portion of the cost of the program established in Section; and 49-20-404 reasonable administrative costs that the board of trustees incurs in performing its duties as trustees of the Elected Official Post-Retirement Benefits Trust Fund.
(6) The board of trustees shall ensure that: money deposited into the Elected Official Post-Retirement Benefits Trust Fund is irrevocable and is expended only for the employer portion of the costs of post-retirement benefits under Section; and 49-20-404 creditors of the board of trustees and of employers liable for the post-retirement benefits may not seize, attach, or otherwise obtain assets of the Elected Official Post-Retirement Benefits Trust Fund.
(7) When all of the liabilities for which the Elected Official Post-Retirement Benefits Trust Fund was created are paid, the Division of Finance shall transfer any assets remaining in the Elected Official Post-Retirement Benefits Trust Fund into the appropriate fund.