49-11-503 - Rate of interest on redeposits, adjustments, and delinquent payments.
49-11-503. Rate of interest on redeposits, adjustments, and delinquent payments.
The rate of interest charged on redeposits of refunds, adjustments, or delinquent paymentsis the greater of:
(1) the interest rate as determined under a formula approved by the board; or
(2) the actuarial interest rate as of the preceding June 30.
Amended by Chapter 240, 2003 General Session