The right to a member's annuity, or a county annuity, or to the return of contributions, shall be exempt from any State or municipal tax and from levy, sale, garnishment, attachment or any other process whatsoever and shall be unassignable, except for any indebtedness due the county or the institution district arising out of embezzlement or fraudulent conversion by a member of the fund against the respective county or the institution district of which the same member is employed.
16 P.S. § 11677