---
title: O.C.G.A. § 47-2-56. Maintenance of annuity and pension reserves and payment of benefits under this chapter as obligations of the pension accumulation fund; permissible uses of assets of the fund.
collection: code
id: 47-2-56
cite_as: O.C.G.A. § 47-2-56 (2025)
canonical_url: https://georgiacommons.org/code/47-2-56
md_url: https://georgiacommons.org/code/47-2-56.md
text_url: https://georgiacommons.org/code/47-2-56/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t47-(v35)-2010-pdf.pdf?sfvrsn=7d4bbd90_0#page=87
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/47-2.md
previous: https://georgiacommons.org/code/47-2-55.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: RETIREMENT AND PENSIONS / EMPLOYEES’ RETIREMENT SYSTEM OF GEORGIA / EMPLOYEE AND EMPLOYER CONTRIBUTIONS AND CREATION OF FUNDS FOR CONTRIBUTIONS, BENEFITS, AND ADMINISTRATIVE EXPENSES
---

# O.C.G.A. § 47-2-56. Maintenance of annuity and pension reserves and payment of benefits under this chapter as obligations of the pension accumulation fund; permissible uses of assets of the fund.

The maintenance of annuity reserves and pension reserves, the crediting of regular interest to the annuity savings fund under Code Section 47-2-55, and the payment of all pensions, annuities, retirement allowances, refunds, and other benefits granted under this chapter shall be obligations of the pension accumulation fund, except as provided in paragraph (3) of subsection (c) of Code Section 47-2-128. All assets of the pension accumulation fund and all income, interest, and dividends derived from deposits and investments shall be used for the payment of such obligations and for no other purposes.

## History

Ga. L. 1949, p. 138, § 11; Ga. L. 1973, p. 900, § 9; Ga. L. 1991, p. 130, § 1.