5 §17157. Interest and dividend credits - Maine Statutes

Title 5: ADMINISTRATIVE PROCEDURES AND SERVICES

Part 20: STATE RETIREMENT SYSTEM (HEADING: PL 1985, C. 801, §5 (NEW))

Chapter 421: GENERAL PROVISIONS (HEADING: PL 1985, C. 801, §5 (NEW))

Subchapter 4: FINANCING (HEADING: PL 1985, C. 801, §5 (NEW))

Article 1: GENERAL PROVISIONS (HEADING: PL 1985, C. 801, §5 (NEW))

§17157. Interest and dividend credits

All interest and dividends earned on the funds of the retirement system shall be credited to the Retirement Allowance Fund. [1985, c. 801, §§ 5, 7 (NEW).]

1. Transfer to Members' Contribution Fund. The board shall periodically allow regular interest on the individual accounts of members in the Members' Contribution Fund and shall transfer those amounts from the Retirement Allowance Fund to the Members' Contribution Fund.

[ 1989, c. 95, §2 (AMD) .]

2. Transfer to Survivors' Benefit Fund.

[ 2007, c. 249, §18 (RP) .]

SECTION HISTORY

1985, c. 801, §§5,7 (NEW). 1989, c. 95, §2 (AMD). 2007, c. 249, §18 (AMD).