128-35. Obligations of pension accumulation fund.
The maintenance of annuity reserves and pension reserves as provided for, and regular interest creditable to the various funds as provided in G.S. 128-30, and the payment of all pensions, annuities, retirement allowances, refunds and other benefits granted under the provisions of this Article, are hereby made obligations of the pension accumulation fund. All income, interest and dividends derived from deposits and investments authorized by this Article shall be used for the payment of said obligations of the said fund. (1939, c. 390, s. 15.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 128 - Offices and Public Officers
Article 3 - Retirement System for Counties, Cities and Towns.
§ 128-22 - Name and date of establishment.
§ 128-23 - Acceptance by cities, towns and counties.
§ 128-23.1 - Inactive employers.
§ 128-26 - Allowance for service.
§ 128-26A - Reciprocity of creditable service with other State-administered retirement systems.
§ 128-28 - Administration and responsibility for operation of System.
§ 128-29 - Management of funds.
§ 128-30 - Method of financing.
§ 128-31 - Exemptions from execution; employing unit to offset amount owed by member or beneficiary.
§ 128-32 - Protection against fraud.
§ 128-32.1 - Failure to respond.
§ 128-33 - Certain laws not applicable to members.
§ 128-33.1 - Public records held by the Retirement System.
§ 128-34 - Transfer of members.
§ 128-35 - Obligations of pension accumulation fund.
§ 128-36 - Local laws unaffected; when benefits begin to accrue.
§ 128-37 - Membership of employees of district health departments or public health authorities.
§ 128-37.1 - Membership of employees of county social services department.
§ 128-37.2 - Continued membership for certain fire departments.
§ 128-38 - Reservation of power to change.
§ 128-38.1 - Termination or partial termination; discontinuance of contributions.
§ 128-38.2 - Internal Revenue Code compliance.
§ 128-38.3 - Deduction for payments allowed.
§ 128-38.4B - Prohibition on purchase of forfeited service.
§ 128-38.5 - Improper receipt of decedent's retirement allowance.