Ala. Admin. Code r. 800-2-1-.05

Current through Register Vol. 43, No. 1, October 31, 2024

Section 800-2-1-.05 - Interest

For the purpose of crediting interest to members' accumulated contributions and for the purpose of computing the amount of any annuity, pension or optional benefit elected in lieu thereof, the interest will be 4 percent. Interest will be credited to the account of each member once each year as of September 30 on the mean amount in the member's account for the immediately preceding year.

Author: William T. Stephens, General Counsel, RSA.

Filed September 30, 1982; effective October 1, 1982. Amended: Filed May 20, 1985; effective June 25, 1985 for fiscal years beginning thereafter.

Statutory Authority:Code of Ala. 1975, § 36-27-23(g).