(a) The second and third parts of the annuity provided for by § 38-2001.05 shall be paid by appropriations from the same fund as the current expenses of the District of Columbia were paid on June 11, 1926, or may thereafter be paid.
(b) The reserves created as the result of such annual appropriations shall be held by the Treasurer of the United States separate from the fund created by the contributions of the teachers, and the fund shall be credited with interest at 4% per annum, compounded annually. The fund thus created shall be held and invested by the Treasurer of the United States until paid out as hereinafter provided, and the income derived from such investments shall constitute a part of said fund for the purpose of carrying out the provisions of this subchapter.
(Jan. 15, 1920, 41 Stat. 388, ch. 39, § 7; June 11, 1926, 44 Stat. 728, ch. 556, § 1; Nov. 17, 1979, 93 Stat. 866, Pub. L. 96-122, § 146(c)(1).)
1981 Ed., § 31-1207.
1973 Ed., § 31-707.
This section is referenced in § 38-2021.02.
Structure District of Columbia Code
Title 38 - Educational Institutions
Chapter 20 - Retirement of Public School Teachers
Subchapter I - Retirement Before June 30, 1946
§ 38–2001.01. Annuity — Salary deductions
§ 38–2001.02. Annuity — Deposit in United States Treasury
§ 38–2001.03. Retirement age; continuous employment requirements
§ 38–2001.04. Disability retirement; requirements
§ 38–2001.05. Annuity allowance
§ 38–2001.06. Minimum-service credit in cases of disability retirement
§ 38–2001.07. Appropriations for annuity; reserves; interest
§ 38–2001.08. Credit for service outside District
§ 38–2001.09. Refund on leaving service; reinstatement
§ 38–2001.10. Death of teacher — Designation of beneficiary
§ 38–2001.10a. Death of teacher — Precedence of payments
§ 38–2001.11. Consent to deductions
§ 38–2001.12. Discharge of teachers
§ 38–2001.14. Records to be kept by Mayor
§ 38–2001.16. Rules and regulations
§ 38–2001.17. Funds not subject to assignment, execution or levy
§ 38–2001.18. Application of subchapter — Annuities from other governments
§ 38–2001.19. Application of subchapter — Annuities under prior act