2005 Vermont Code - § 5066. — Exemption of member\'s interest; assignment

§ 5066. Exemption of member's interest; assignment

That portion of the salary or wages of a member deducted or to be deducted under this chapter, the right of a member to an annuity, pension, or retirement allowance hereunder, and all his rights in the funds of the retirement system, shall be exempt from taxation, except income tax, and from the operation of any laws relating to bankruptcy or insolvency, and shall not be attached or taken upon execution or other process of any court. No assignment by a member of any part of such funds to which he is or may be entitled, or of any right to or interest in such funds, shall be valid, except to the extent permitted by this chapter. (Added 1973, No. 251 (Adj. Sess.), § 3.)