26-2-116. Old age pension stabilization fund.
98 words·~1 min read·
/co/title-26-human-services-code/article-2-public-assistance/26-2-116·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any moneys remaining in the old age pension fund after full payment of basic minimum awards to qualified old age pension recipients shall be transferred to a fund to be known as the old age pension stabilization fund, which fund shall be maintained at the amount of five million dollars and restored to that amount after any disbursements therefrom. The state board shall use the moneys in such fund only to stabilize payments of old age pension basic minimum awards. Moneys in the old age pension stabilization fund shall be subject to annual appropriation by the general assembly.