There is a newer version of the Connecticut General Statutes
2009 Connecticut Code
Title 7 Municipalities
Chapter 113 Municipal Employees
Sec. 7-447. Custody and investment of funds.
Sec. 7-447. Custody and investment of funds. All contributions received from
members and municipalities shall be paid over daily by the Retirement Commission to
the State Treasurer, who shall be the custodian of the fund with power to invest and
reinvest as much of said fund as is not required for current disbursement in accordance
with the provisions of part I of chapter 32. All benefits, allowances and other payments
authorized by this part shall be made from the fund upon vouchers approved by the
Retirement Commission.(1949 Rev., S. 900; 1969, P.A. 191, S. 2; P.A. 81-343, S. 4, 7.)
History: 1969 act allowed investments in trust funds; P.A. 81-343 substituted "Part I of Chapter 32" for previous language allowing investments in accordance with statutes governing savings banks or trust funds investments.
See Sec. 4-32 re state revenue accounting.
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