2016 Pennsylvania Consolidated Statutes
Title 71 - STATE GOVERNMENT
Chapter 59 - Administration, Funds, Accounts, General Provisions
Section 5939 - Interest reserve account
The interest reserve account shall be the ledger account to which shall be credited all income earned by the fund and to which shall be charged all administrative and investment expenses incurred by the fund. At the end of each year the required interest shall be transferred from the interest reserve account to the credit of each of the accounts in accordance with the provisions of this subchapter. In addition, at the end of each accounting period, the interest reserve account shall be credited or charged with all recognized changes in the market valuation of the investments of the fund. The administrative and investment expenses of the board shall be paid from the fund out of earnings. Any surplus or deficit in the interest reserve account at the end of each year shall be transferred to the State accumulation account.
(Mar. 4, 1982, P.L.141, No.45, eff. imd.)
Cross References. Section 5939 is referred to in section 5932 of this title.
Disclaimer: These codes may not be the most recent version. Pennsylvania may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
