Delaware § 8393 Establishment of Fund

Delaware Statutes

§ 8393 — Establishment of Fund

Delaware § 8393

JurisdictionDelaware

Title11

PartLaw-Enforcement Administration

Ch. 83STATE POLICE

Subch.Service, Disability and Survivor’s Pensions

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Bluebook

Del. Code tit. 11, § 8393 (2026).

Text

There shall be established a State Police Retirement Fund, hereinafter referred to as the “Fund,” separate and distinct from the Fund established under subchapter II of this chapter, to which state appropriations and other employer contributions shall be deposited monthly, and to which member contributions shall be deposited upon deduction from the member’s paycheck, and to which earnings on investments, refunds and reimbursements shall be deposited upon receipt, and from which benefits shall be paid and fees and expenses authorized by the Board shall be paid. Subject to Internal Revenue Code § 401(a)(24) [26 U.S.C. § 401(a)(24)], the assets of the Fund will be commingled in the Delaware Public Employees’ Retirement System as provided for by § 8308 of this title. The assets of the Fund are

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There shall be established a State Police Retirement Fund, hereinafter referred to as the “Fund,” separate and distinct from the Fund established under subchapter II of this chapter, to which state appropriations and other employer contributions shall be deposited monthly, and to which member contributions shall be deposited upon deduction from the member’s paycheck, and to which earnings on investments, refunds and reimbursements shall be deposited upon receipt, and from which benefits shall be paid and fees and expenses authorized by the Board shall be paid. Subject to Internal Revenue Code § 401(a)(24) [26 U.S.C. § 401(a)(24)], the assets of the Fund will be commingled in the Delaware Public Employees’ Retirement System as provided for by § 8308 of this title. The assets of the Fund are held in trust and may not be used for or diverted to any purpose other than for the exclusive benefit of the employees and their beneficiaries.