Vermont Statutes Title 16 Sec. 1932
Terms Used In Vermont Statutes Title 16 Sec. 1932
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: shall mean the board of trustees of the System provided for in section 1942 of this title to administer the System. See
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Retirement: shall mean withdrawal from active service with a retirement allowance granted under the provisions of this chapter. See
- Retirement System: shall mean the State Teachers' Retirement System of Vermont, as defined in section 1932 of this title. See
- State: shall mean the State of Vermont. See
§ 1932. Date of establishment; power and privileges; name
A retirement system is hereby established and placed under the management of the Board of Trustees of the System for the purpose of providing retirement allowances and other benefits under the provisions of this chapter for teachers of the State of Vermont. The System shall begin operation and be established as of July 1, 1947. It shall have the power and privileges of a corporation and shall be known as the “State Teachers’ Retirement System of Vermont,” and by such name all of its business shall be transacted, all of its assets invested, and all of its cash and securities and other property held in trust for the purpose for which received. (Amended 2007, No. 13, § 23.)