135-12. Obligation of maintaining reserves and paying benefits.
The maintenance of annuity reserves and pension reserves as provided for and regular interest creditable to the various funds as provided in G.S. 135-8, and the payment of all pensions, annuities, retirement allowances, refunds and other benefits granted under the provisions of this Chapter, are hereby made obligations of the pension accumulation fund. All income, interest and dividends derived from deposits and investments authorized by this Chapter shall be used for the payment of the said obligations of the said fund. (1941, c. 25, s. 12.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 1 - Retirement System for Teachers and State Employees.
§ 135-1 - Definitions[Effective until January 1, 2023]
§ 135-1.1 - Licensing and examining boards.
§ 135-2 - Name and date of establishment.
§ 135-4.1 - Reciprocity of creditable service with other State-administered retirement systems.
§ 135-5.1 - Optional retirement program for The University of North Carolina.
§ 135-5.4 - Optional retirement program for State-funded community colleges.
§ 135-5.5 - Inactive employers.
§ 135-6.1 - Member retirement record files held by the Retirement System.
§ 135-7 - Management of funds.
§ 135-8 - Method of financing.
§ 135-10 - Protection against fraud.
§ 135-10.1 - Failure to respond.
§ 135-11 - Application of other pension laws.
§ 135-12 - Obligation of maintaining reserves and paying benefits.
§ 135-16.1 - Blind or visually impaired vendors.
§ 135-17 - Facility of payment.
§ 135-18.4 - Reservation of power to change.
§ 135-18.6 - Termination or partial termination; discontinuance of contributions.
§ 135-18.7 - Internal Revenue Code compliance.
§ 135-18.8 - Deduction for payments allowed.
§ 135-18.10B - Prohibition on purchase of forfeited service.
§ 135-18.11 - Improper receipt of decedent's retirement allowance.