(1) (a) There is hereby created the fire and police members' benefit investment fund, which shall consist of the portion of the assets that are designated for investment by the board of the following plans: (I) The defined benefit system established in part 2 of this article; (II) Old hire police and fire pension plans established in article 30.5 of this title, which are affiliated with the association pursuant to part 7 of this article; (III) Exempt plans established pursuant to part 8 of article 30.5 of this title, which are affiliated with the association pursuant to part 7 of this article; (IV) Volunteer firefighter pension plans, which are affiliated with the association pursuant to part 7 of this article; and (V) The statewide death and disability plan established in part 8 of this article. (b) The board shall keep an accurate account of the assets of each plan deposited in the investment fund and shall disburse moneys in accordance with the provisions of this article and the applicable plan document. (2) and (3) (Deleted by amendment, L. 2006, p. 186, § 11, effective March 31, 2006.) (4) (a) There is hereby created the fire and police members' self-directed investment fund, which shall consist of the portion of the assets that are designated for self-direction by the member of the following plans: (I) The defined benefit system established in part 2 of this article; (II) Old hire police and fire pension plans established in article 30.5 of this title, which are affiliated with the association pursuant to part 7 of this article; (III) The fire and police members' statewide money purchase plan established in part 5 of this article; (IV) Repealed. (V) The fire and police members' deferred compensation plans established in part 9 of this article; and (VI) The affiliated exempt plans which are affiliated with the association pursuant to part 7 of this article. (b) The board shall keep an accurate account of the assets of each plan deposited in the investment fund and shall disburse moneys in accordance with the provisions of this article and the applicable plan document.
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