Ga. Comp. R. & Regs. R. 513-9-1-.04 - Calculation of Interest on Refunds

Contributions on deposit of receivable as of June 30 shall earn interest at the statutory rate. Interest shall be credited on the succeeding June 30 provided the contributions are still on deposit and the member is still actively employed. Interest so credited shall be deemed a contribution on deposit as of that June 30 to earn interest the following fiscal year.

Notes

Ga. Comp. R. & Regs. R. 513-9-1-.04
O.C.G.A. Sections 47-9-22 and 47-9-75.
Original Rule entitled "Calculation of Interest on Refunds" effective on December 3, 1980; filed on December 31, 1985.

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