§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. [PL 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.
[PL 1989, c. 95, §2 (AMD).]
2. Transfer to Survivors' Benefit Fund.
[PL 2007, c. 249, §18 (RP).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 1989, c. 95, §2 (AMD). PL 2007, c. 249, §18 (AMD).
Structure Maine Revised Statutes
TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Part 20: STATE RETIREMENT SYSTEM
Chapter 421: GENERAL PROVISIONS
5 §17151. Legislative findings and intent
5 §17154. Administration of funds
5 §17156. Rate of interest (WHOLE SECTION TEXT EFFECTIVE ON CONTINGENCY: See PL 1991, c. 619, §18)
5 §17157. Interest and dividend credits