Statutory interest charges payable, the maintenance of reserves in the fund, and the payment of all annuities and other benefits granted by the board from the system under the provisions of this part relating to the establishment and administration of the system are hereby made obligations of the Commonwealth. All income, interest, and dividends derived from deposits and investments of the system authorized by this part shall be used for the payment of the said obligations of the Commonwealth and shall not be used for any obligations of the plan or trust.
(June 12, 2017, P.L.11, No.5, eff. imd.)
Cross References. Section 8531 is referred to in sections 8502.2, 9101 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 85 - Administration and Miscellaneous Provisions
Section 8501 - Public School Employees' Retirement Board
Section 8502 - Administrative duties of board
Section 8502.1 - Health insurance (Deleted by amendment)
Section 8502.2 - Health insurance
Section 8503 - Duties of board to advise and report to employers, members and participants
Section 8504 - Duties of board to report to State Employees' Retirement Board
Section 8505 - Duties of board regarding applications and elections of members and participants
Section 8505.1 - Installment payments of accumulated deductions
Section 8506 - Duties of employers
Section 8507 - Rights and duties of school employees, members and participants
Section 8508 - Rights and duties of annuitants
Section 8509 - Health insurance premium assistance program
Section 8510 - Stress test of system
Section 8521 - Management of fund and accounts
Section 8522 - Public School Employees' Retirement Fund
Section 8523 - Members' savings account
Section 8524 - State accumulation account
Section 8525 - Annuity reserve account
Section 8526 - Health insurance account
Section 8527 - Northern Ireland-related investments
Section 8531 - State guarantee regarding the system
Section 8532 - State supervision
Section 8533 - Taxation, attachment and assignment of funds
Section 8533.1 - Approval of domestic relations orders
Section 8533.2 - Irrevocable beneficiary
Section 8533.3 - Irrevocable survivor annuitant
Section 8533.4 - Amendment of approved domestic relations orders
Section 8533.5 - Irrevocable successor payee
Section 8534 - Fraud and adjustment of errors
Section 8535 - Payments to school entities by Commonwealth
Section 8536 - Independent Fiscal Office study
Section 8537 - Internal Revenue Code limitations
Section 8538 - Public Pension Management and Asset Investment Review Commission
Section 8544 - Participation criteria