Terms Used In South Carolina Code 9-1-280
- Board: means the Board of Directors of the South Carolina Public Employee Benefit Authority which shall act under the provisions of this chapter through its Division of Retirement Systems. See South Carolina Code 9-1-10
- Regular interest: means interest compounded annually at a rate determined by the board in accordance with Section 9-1-280. See South Carolina Code 9-1-10
The Board shall determine from time to time the rate of regular interest for use in all calculations, with the rate of four per cent per annum applicable unless heretofore or hereafter changed by the Board.