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This is an obsolete version of the rule. Please click on the rule number to view the current version.

2.43.1111    INTEREST PAID TO PARTICIPANTS

(1) A participant's DROP accrual must include compounded annual interest.

(2) The interest rate will be fixed at the end of each fiscal year and will equal the total rate of return for the trust fund. Interest rates for any part of the current fiscal year will be based on the previous fiscal year's total rate of return.

(3) When the total rate of return for the trust fund is less than zero, participants will receive zero interest.

History: 19-2-403, 19-9-1203, MCA; IMP, 19-9-1206, 19-9-1208, MCA; NEW, 2002 MAR p. 1891, Eff. 7/12/02.
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