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Section 2-198 Investment of excess funds.
In case there should accumulate more funds than should be needed for immediate use, the Pension Board of Trustees is empowered to invest and reinvest such funds held by it in any investments which are legal investments of domestic insurance companies under the laws of this state. Such investments are to be made always in keeping with the goal of obtaining the maximum return on such investments as can be realized while maintaining the safety and integrity of the Pension Fund through an established prudent and sound investment philosophy, and the Pension Board of Trustees is authorized and empowered to employ such investment counselors and advisers as the Board in its discretion shall deem advisable in order to meet the goal described above. (Code 1958, 17-14)
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