Indiana Code 33-39-7-14. Interest credits
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Sec. 14. (a) Interest shall be credited at least annually on or before June 30 at a rate specified by rule by the board on all amounts credited to the member as of June 30 of the preceding year.
(c) When a member retires or withdraws, a proportional interest credit determined under this chapter shall be paid for the period elapsed since the last date on which interest was credited.
(b) Contributions begin to accumulate interest at the beginning of the fiscal year after the year in which the contributions are due.
Terms Used In Indiana Code 33-39-7-14
- board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 33-39-7-3
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
[Pre-2004 Recodification Citation: 33-14-9-12.5.]
As added by P.L.98-2004, SEC.18. Amended by P.L.16-2011, SEC.10; P.L.92-2021, SEC.14.