Section 16-26D-8 - Funding(a) It is the intent of the Legislature that the Teachers' Retirement System invest the funds of the trust fund and the trustees operate the trust fund in compliance with the Internal Revenue Code in a manner that could allow the trust fund to maximize investment earnings while minimizing the costs to the trust fund. It is also the intent of the Legislature that the trust fund be operated in a manner that satisfies the definition of other post-employment benefits trusts under generally accepted governmental accounting principles.(b) The trust fund is not subject to any law which conflicts with the intent of the Legislature as expressed in subsection (a) or prevents or unreasonably hinders the accomplishment of the purposes of this chapter.Ala. Code § 16-26D-8 (1975)
Added by Act 2018-480,§ 8, eff. 7/1/2018.