7.1401 Purpose and intent.
(a) The purpose of the Government Retirement Fund shall be to provide retirement annuities for the employees of the government who become aged, thereby enabling the employees to accumulate reserves for themselves in order to meet, without prejudice or hardship, the hazards of old age upon termination of their government service. It is the further objective of this fund to act as a strong incentive in attracting qualified personnel to enter and remain in government service to the end that their talents may be utilized for the sake of achieving greater economy and efficiency in the administration of the government.
(b) It is the intention of this chapter that the payment by the government of the required contributions and all allowances, annuities, and benefits shall be obligations of the government.History: 1971, PL 12-29, §§ 2, 26; amd 1986, PL 19-37 § 1.
Amendments: 1986 Subsection (b): inserted “and” before “benefits”, deleted “and administration expenses”.
Reviser’s Comment: Section 33.0203 of XXXIII Code Am. Samoa. 1961 Ed., provided that “The fund shall become operative as of September 1, 1971.”