Pennsylvania § 8523 - Members' savings account.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 8523 — Members' savings account., with citation guidance and answers to common questions.
§ 8523. Members' savings account.
(a) Credits to account.--The members' savings account shall be the ledger account to which shall be credited the amounts of the pickup contributions made by the employer and contributions or lump sum payments made by active members in accordance with the provisions of Chapter 83 (relating to membership, contributions and benefits).
(b) Interest and transfers from account.--The individual member accounts to which interest is payable shall be credited with statutory interest. The accumulated deductions credited to the account of a member who dies in service or whose application for an annuity has been approved shall be transferred from the members' savings account to the annuity reserve account provided for in section 8525 (relating to annuity reserve account).
(c) Charges to account.--Upon the election of a member to withdraw his accumulated deductions, the payment of such amount shall be charged to the members' savings account.
(July 22, 1983, P.L.104, No.31, eff. imd.; Dec. 19, 1984, P.L.1191, No.226, eff. imd.)
1984 Amendment. Act 226 reenacted subsec. (a), retroactive to January 1, 1983.
Cross References. Section 8523 is referred to in sections 8522, 8525 of this title.
Source: official Pennsylvania text · Last verified 2026-08-27
Frequently Asked Questions About Pennsylvania § 8523
What does Pennsylvania Consolidated Statutes § 8523 cover?
Section 8523 ("Members' savings account.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 8523?
A common citation format is "Pennsylvania Consolidated Statutes § 8523" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 8523 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.