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Code · Kentucky · Chapter 161 — School employees -- teachers' retirement and tenure

161.440 Assignment of interest to funds.

71 words·~1 min read·/ky/chapter-161/161-440

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

At the end of each fiscal year the board of trustees shall assign from the guarantee fund interest at the regular interest rate to the teachers' savings fund, the state accumulation fund, and the allowance reserve fund. The amounts so allowed shall be due and payable to the funds and shall be annually credited thereto by the board of trustees from interest and other earnings on money of the retirement system.
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