(a) The Retirement Board shall be the custodian of the assets of the Funds and shall manage and invest the assets in accordance with the Retirement Reform Act and this chapter.
(b) The assets of the Funds shall be kept separate from other monies that may be under the control of the Retirement Board, but need not be kept separate from the assets of the separate funds comprising the Funds if the Retirement Board determines that commingling of those assets is advisable for investment purposes.
(c) The Retirement Board shall maintain, in an appropriate depository, a cash reserve for the Funds in an amount determined by the Retirement Board to be sufficient to meet current outlays for annuities and other retirement and disability benefits authorized to be paid from the Funds.
CREDIT(S)
(Sept. 18, 1998, D.C. Law 12-152, § 113, 45 DCR 4045.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 1-782.3.
Legislative History of Laws
For legislative history of D.C. Law 12-152, see Historical and Statutory Notes following § 1-901.01.
References in Text
The “Retirement Reform Act,” referred to in (a), is the Act of November 17, 1979, 93 Stat. 866, Pub. L. 96-122.
Miscellaneous Notes
Application of Law 12-152: See Historical and Statutory Notes following § 1-901.01.