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Illinois Statutes Chapter 40. Pensions § 5/14-103.23. Regular interest

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 14-103.23. Regular interest. “Regular interest”: Interest at such rate determined from the actual experience of the system as may be prescribed by the board, compounded annually. Credit for regular interest each fiscal year on a member's individual contribution account shall be computed on the accumulated balance in the account at the beginning of each fiscal year.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/14-103.23. Regular interest - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-14-103-23/

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