SECTION 1. Section 1 of chapter 32 of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting after the definition of “State police surgeon” in line 551, the following definition:-
“Surplus”, any monies in the annuity savings fund of any system, the pension fund of any system, in the pension reserve fund of any system in the PRIT fund, in the expense fund of any system and in the special fund for military service, whether from the regular deductions of members, amounts appropriated by any governmental unit, interest or profits earned by monies in all funds shall be held in contractual trust for the exclusive benefit of the members of each retirement system and any amounts in surplus over the requirements to fund fully each system shall be held in trust for the benefit of the members of each system.
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