Sec. 45a-49. (Formerly Sec. 45-29p). Disposition of retirement contributions. - Connecticut Statutes

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Statutes > Connecticut > Title45a > Chap801 > Sec45a-49

      Sec. 45a-49. (Formerly Sec. 45-29p). Disposition of retirement contributions. All contributions received pursuant to sections 45a-34 to 45a-52, inclusive, shall be paid over by the Retirement Commission to the State Treasurer. The State Treasurer shall be the custodian of the fund with power to invest and reinvest as much of the fund as is not required for current disbursements in accordance with the provisions of part I of chapter 32. All benefits, allowances, and other payments authorized by said sections shall be made from the fund upon vouchers approved by the Retirement Commission.

      (1967, P.A. 558, S. 41; 1972, P.A. 244, S. 9; P.A. 80-476, S. 51; P.A. 81-343, S. 6, 7.)

      History: 1972 act authorized investments "when deemed prudent, in accordance with the law governing the investment of trust funds"; P.A. 80-476 made slight change in wording; P.A. 81-343 substituted investments in accordance with Ch. 32, Pt. I for investments in accordance with laws governing savings banks and trust funds investments; Sec. 45-29p transferred to Sec. 45a-49 in 1991.

State Codes and Statutes

Statutes > Connecticut > Title45a > Chap801 > Sec45a-49

      Sec. 45a-49. (Formerly Sec. 45-29p). Disposition of retirement contributions. All contributions received pursuant to sections 45a-34 to 45a-52, inclusive, shall be paid over by the Retirement Commission to the State Treasurer. The State Treasurer shall be the custodian of the fund with power to invest and reinvest as much of the fund as is not required for current disbursements in accordance with the provisions of part I of chapter 32. All benefits, allowances, and other payments authorized by said sections shall be made from the fund upon vouchers approved by the Retirement Commission.

      (1967, P.A. 558, S. 41; 1972, P.A. 244, S. 9; P.A. 80-476, S. 51; P.A. 81-343, S. 6, 7.)

      History: 1972 act authorized investments "when deemed prudent, in accordance with the law governing the investment of trust funds"; P.A. 80-476 made slight change in wording; P.A. 81-343 substituted investments in accordance with Ch. 32, Pt. I for investments in accordance with laws governing savings banks and trust funds investments; Sec. 45-29p transferred to Sec. 45a-49 in 1991.

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State Codes and Statutes

Statutes > Connecticut > Title45a > Chap801 > Sec45a-49

      Sec. 45a-49. (Formerly Sec. 45-29p). Disposition of retirement contributions. All contributions received pursuant to sections 45a-34 to 45a-52, inclusive, shall be paid over by the Retirement Commission to the State Treasurer. The State Treasurer shall be the custodian of the fund with power to invest and reinvest as much of the fund as is not required for current disbursements in accordance with the provisions of part I of chapter 32. All benefits, allowances, and other payments authorized by said sections shall be made from the fund upon vouchers approved by the Retirement Commission.

      (1967, P.A. 558, S. 41; 1972, P.A. 244, S. 9; P.A. 80-476, S. 51; P.A. 81-343, S. 6, 7.)

      History: 1972 act authorized investments "when deemed prudent, in accordance with the law governing the investment of trust funds"; P.A. 80-476 made slight change in wording; P.A. 81-343 substituted investments in accordance with Ch. 32, Pt. I for investments in accordance with laws governing savings banks and trust funds investments; Sec. 45-29p transferred to Sec. 45a-49 in 1991.