Any and all cash assets and funds not necessary for immediate payment of pensions or benefits shall be invested in securities that are legal investments under the laws of the Commonwealth for public sinking funds. Any funds raised by any police officers' pension and retirement board for the payment of pensions and benefits shall be paid over to the treasurer of such board who shall deposit and pay the funds as provided in this section to the credit of the board.
1940, p. 739; Michie Code 1942, § 3035n; Code 1950, § 51-125; 1956, c. 184; 1990, c. 832.
Structure Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
Chapter 8 - Local Retirement Systems
§ 51.1-801. Counties, cities, and towns generally
§ 51.1-802. Assets of retirement systems; exemption from taxation; execution and assignment
§ 51.1-803. Investments of retirement systems
§ 51.1-805. In certain counties
§ 51.1-807. Police officers' pension and retirement boards
§ 51.1-808. Powers, authority, and duties of board
§ 51.1-809. Treasurer of board
§ 51.1-810. Time credited to service record
§ 51.1-811. Eligibility for retirement; retirement allowance
§ 51.1-812. Disability from natural causes not originating in performance of official duties
§ 51.1-813. Disability resulting from activities in discharge of official duties
§ 51.1-814. Employing such presumption in determining eligibility for benefits
§ 51.1-816. Reduction of pension and benefits where income earned during disability retirement
§ 51.1-817. Salary deductions payable to estate or refunded
§ 51.1-818. Funds for payment of pensions and benefits
§ 51.1-819. Adoption of article optional by counties, cities, and towns; appeal
§ 51.1-820. Police officers' pensions and retirements
§ 51.1-821. Police Retirement System
§ 51.1-822. Amendment, suspension, or revocation of retirement plan and trust