§ 45-21-38 - Receipt of contributions – Investment of funds. - Rhode Island Statutes

SECTION 45-21-38

   § 45-21-38  Receipt of contributions –Investment of funds. – All contributions received by the retirement system from members andparticipating municipalities shall be paid periodically to the generaltreasurer and shall be deposited by the treasurer to the credit of theretirement system. All moneys not immediately required for the payment ofretirement allowances or other benefits under the provisions of this chaptermay be invested by the state investment commission under the provisions ofchapter 10 of title 35. The retirement board has full power with respect to thedisposition of the proceeds of the investments and of any moneys belonging tothe retirement system.