West Virginia Code 5-10-40 – Restricted use of retirement system moneys
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The moneys, investments and all other assets of the retirement system shall be used for the sole purpose of meeting the disbursements for annuities and other payments authorized by this article, and shall be used for no other purpose whatsoever.
Terms Used In West Virginia Code 5-10-40
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Retirement: means a member's withdrawal from the employ of a participating public employer and the commencement of an annuity by the retirement system. See West Virginia Code 5-10-2
- system: means the West Virginia Public Employees Retirement System created and established by this article. See West Virginia Code 5-10-2