25-14-9 - Investment of monies in life insurance and annuity contracts or in other funds authorized. - Mississippi Statutes

§ 25-14-9. Investment of monies in life insurance and annuity contracts or in other funds authorized.
 

Notwithstanding any other provision of law to the contrary, the Public Employees' Retirement System of Mississippi or the appropriate officer of a county, municipality, or other political subdivision designated to administer a deferred compensation program is hereby authorized to invest the monies held pursuant to a deferred compensation program in fixed and variable life insurance or annuity contracts; or to purchase any investments authorized for purchase by the Public Employees' Retirement System of Mississippi under Section 25-11-121, Mississippi Code of 1972; or to invest such monies in a fund or funds maintained by a corporate trustee, which fund or funds are used as an investment media for retirement, pension or profit sharing plans that are tax qualified for such purpose. 
 

Sources: Laws,  1973, ch. 399, § 5; Laws, 1974, ch. 549, § 3, eff from and after passage (approved April 12, 1974).