(a) It is the intent of the Legislature that the Teachers' 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 while minimizing the costs to the trust fund. It is also the intent of the Legislature that the trust fund be operated in a manner that satisfies the definition of other post-employment benefits trusts under generally accepted governmental accounting principles.
(b) The trust fund is not subject to any law which conflicts with the intent of the Legislature as expressed in subsection (a) or prevents or unreasonably hinders the accomplishment of the purposes of this chapter.
Structure Code of Alabama
Chapter 25D - Education Retirees' Trust Fund Funding Act of 2021
Section 16-25D-1 - Short Title.
Section 16-25D-2 - Legislative Findings.
Section 16-25D-3 - Definitions.
Section 16-25D-4 - Education Retirees' Trust Fund.
Section 16-25D-5 - Liability, Immunity, and Indemnification of Trustees.
Section 16-25D-6 - Board of Control.
Section 16-25D-8 - Investment of Funds; Operation of Trust Fund.