The board of trustees shall also determine from time to time the rate or rates of regular interest for use in all calculations, except as otherwise provided, which rate shall be subject to the approval of the council on pensions and insurance.

Terms Used In Tennessee Code 8-34-505

  • board: means the board provided for in part 3 of this chapter. See Tennessee Code 8-34-101
  • Regular interest: means interest at such rate or rates compounded annually as may be set from time to time by the board of trustees in accordance with §. See Tennessee Code 8-34-101