Source: http://fsmlaw.org/fsm/code/code2014/FSMCode2014Tit53Chap05.html
Timestamp: 2019-04-20 09:07:10+00:00

Document:
§ 503. Contingency reserve account.
§ 504. Investment of funds—Generally.
§ 505. Investment of funds—Authorized investments enumerated.
Editor’s note: Although most of the provisions of this subtitle I have been repealed by implication by the FSM Social Security Act, the provisions of this Trust Territory Social Security Act are retained in this subtitle I since 53 F.S.M.C. 1109 provides for saving of certain of its provisions for certain purposes.
There shall be a Trust Territory Social Security Retirement Fund separate and apart from all public moneys or funds of the Trust Territory, which shall be administered by the Social Security Board exclusively for the purposes of this title.
Source: COM PL 3-40 § 17(a); TT Code 1970, 73 TTC 201; TT Code 1980, 73 TTC 201.
(e) all interest and earnings from investment of the funds.
(2) All moneys in the fund shall be deposited, administered, and disbursed in the same manner and under the same conditions and requirements as provided by law or regulation for other public moneys or funds of the Trust Territory Government.
Source: COM PL 3-40 § 17(a), (b); TT Code 1970, 73 TTC 202; TT Code 1980, 73 TTC 202.
There shall be a contingency reserve account within the Retirement Fund for the purpose of payment of insurance benefits. Funds in the Retirement Fund in excess of the amount required for maintenance of the contingency reserve account shall be invested by the Board as provided in this title.
Source: COM PL 3-40 § 17(c); TT Code 1970, 73 TTC 203; TT Code 1980, 73 TTC 203.
The Board, after investigation and study, shall determine the methods of investing its trust funds to insure the greatest return commensurate with sound financing adequately safeguarded. The Board may invest and reinvest the moneys in its funds and may hold, purchase, sell, assign, transfer, and dispose of any of the securities and investments in which any of the moneys of its funds are invested, and, upon such sale, the proceeds thereof shall redeposited in the funds of the Board subject to reinvestment and payment therefrom by order of the Board.
Source: COM PL 3-40 § 18(a); TT Code 1970, 73 TTC 204; TT Code 1980, 73 TTC 204.
Source: COM PL 3-40 § 18(b); COM PL 4-31 § 4; TT Code 1970, 73 TTC 205; TT Code 1980, 73 TTC 205.

References: § 504

§ 505
 § 17
 § 17
 § 17
 § 18
 § 18
 § 4