§ 34.61. Exemption from execution, non-assignability.
Latest version.
Except as otherwise provided by law, the pensions, annuities, or any other benefits
accrued or accruing to any person under the provisions of sections 34.43 through 34.67 and the accumulated contributions and the cash securities in the fund created under
this chapter are hereby exempted from any state, county or municipal tax and shall
not be subject to execution, attachment, garnishment or any legal process whatsoever
and shall be unassignable; except the recipient of any monthly benefit may authorize
the board of trustees to withhold from the monthly benefit those funds necessary to
pay for the benefits being received through the town, to pay the certified bargaining
agent of the town, and to make any payments for child support or alimony. The board
of trustees may, upon the written request of the retiree of the pension plan, authorize
the plan administrator to withhold from the retirement payment those funds that are
necessary to pay for premiums for accident, health, and long-term care insurance for
the retiree and the retiree's spouse and dependents. The pension plan, and its board
of trustees, shall not incur any liability for participation in this permissive program
should its actions be taken in good faith.
