La. Admin. Code tit. 58 § VII-301

Current through Register Vol. 50, No. 11, November 20, 2024

Section VII-301 - Interest Rates Charged on Purchases of Service Credit

A. All cost computations on and after July 20, 1985 for all active members to gain retirement credit will be done on an 8 percent compound interest rate.

B. The only exceptions to the 8 percent compound interest rate will be credit for active military service, which has a 5 percent compound interest rate in the legislative provision.

C. A review of the interest rate being used will be made in January of each year. Should a change of rate be agreed on after the review, the new rate will become effective July 1 of that same year.

La. Admin. Code tit. 58, § VII-301

Promulgated by the Department of Treasury, School Employees' Retirement System, LR 11:705 (July 1985).

AUTHORITY NOTE: Promulgated in accordance with R.S. 11:1165.