Legislation
SECTION 424
Distribution of earnings
Retirement & Social Security (RSS) CHAPTER 51-A, ARTICLE 9
§ 424. Distribution of earnings. At the close of each fiscal year,
the average rate of investment earnings of the common retirement fund
shall be computed by the actuary and certified to the comptroller. This
rate shall be determined from the investment earnings during the
calendar year, which ended three months prior to the close of the fiscal
year. The amount of such earnings attributable to each retirement system
shall be computed by the actuary and certified to the comptroller, who
shall thereupon credit each retirement system in accordance therewith.
the average rate of investment earnings of the common retirement fund
shall be computed by the actuary and certified to the comptroller. This
rate shall be determined from the investment earnings during the
calendar year, which ended three months prior to the close of the fiscal
year. The amount of such earnings attributable to each retirement system
shall be computed by the actuary and certified to the comptroller, who
shall thereupon credit each retirement system in accordance therewith.