New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 82 - EDUCATIONAL RETIREMENT
Part 3 - MEMBER AND ADMINISTRATIVE UNIT CONTRIBUTIONS
Section 2.82.3.13 - INTEREST CREDITS AND PAYMENTS ON MEMBER CONTRIBUTIONS
Universal Citation: 2 NM Admin Code 2.82.3.13
Current through Register Vol. 35, No. 18, September 24, 2024
At the time of refund of a member's contributory balance, interest shall be paid at the refund rate through the end of the calendar quarter preceding the date of the refund; except that no interest shall be paid on contributions credited to a member's account for any period prior to July 1, 1971, nor shall interest be paid on contributions on deposit for less than one year.
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