§ 114-147. DROP interest.

Latest version.

A member's DROP account shall be credited with interest at the rate determined annually by the trustees. Such interest shall be credited annually as of the last day of each calendar year. Interest shall be credited hereunder for the period commencing as of the date on which a member's DROP account is established and ending as of the earlier of (A) the end of such member's DROP period, or (B) such member's separation date.

(M.C.S., Ord. No. 26460, § 2, 6-18-15)

                    
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