87.265. Interest to be allowed--credit to members' accounts. - Missouri Statutes

Interest to be allowed--credit to members' accounts.

87.265. The board of trustees annually shall allow interestat the rate determined by the board on the mean amount for thepreceding year in each of the funds with the exception of theexpense fund. The amount so allowed shall be due and payable tothe funds and shall be annually credited thereto by the board oftrustees from interest and other earnings on the moneys and otherassets of the retirement system. From the interest allocated tothe members' savings fund, the board of trustees shall annuallycredit each member's individual account with interest on thelargest balance remaining in each account for the entire year andat the rate determined by the board.

(L. 1943 p. 708 § 7, A.L. 1959 S.B. 314 § 86.561)