Whenever any person is restored to membership and, under authority of R.S. 11:728 or any other provision of law, is permitted to repay contributions previously refunded on account of withdrawal from membership and thus to restore credit lost by reason of such refund of contributions, interest on the amount to be so repaid shall be charged and paid at the prevailing rate as determined by the board of trustees compounded annually.
R.S. 11:736 active rs title
Restoration of credit for service previously cancelled by withdrawal of accumulated contributions; interest ACTIVE
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References
Cited by
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History
- enactment Acts 1971, No. 5, §2
- amendment Acts 1972, No. 16, §1