RULE 075.00.15-001 - Amended Regulation 408

RULE 075.00.15-001. Amended Regulation 408

In accordance with A.C.A. 24-4-101(38), the rate of interest to be charged for all provisions of Chapter 4 of Title 24 of the Arkansas Code where reference is made to "regular interest" shall be the actuarially assumed rate of return as adopted by the Board of Trustees from time to time. Unless otherwise directed by the Board of Trustees, a change in the rate of "regular interest" shall become effective on the first day of the calendar year. Any commitment already in active payment status at that time wherein APERS has received at least one installment payment shall remain at the rate previously established by the Board.

MARKUP-APERS Regulation 408

REGULATION 408 - REGULAR INTEREST - In accordance with A.C.A. 24-4-101(38), the rate of interest to be charged for all provisions of Chapter 4 of Title 24 where reference is made to "regular interest",shall be the actuarially assumed rate of return as adopted by the Board of Trustees from time to time. Unless otherwise directed by the Board of Trustees, a change in the rate of "regular interest" shall become effective on the first day of the calendar year. Any commitment already in active payment status at that time wherein APERS has received at least one installment payment shall remain at the rate previously established by the Board.

APERS REGULATION 408 - REGULAR INTEREST SUMMARY OF AMENDMENT CHANGE TO REGULATION 408

This amendment fixes the interest rate charged and paid as "regular interest" under the provisions of Chapter 4 of Title 24 (laws governing APERS) at the actuarially assumed rate of return on APERS investments adopted by the APERS Board of Trustees. The amendment changes the regular interest rate from a fixed rate to that which mirrors APERS's investment's actuarially-assumed rate of return. Its immediate effect is to lower the rate charged by APERS from 8% to 7.75%.

(4/28/2015)

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