I hope this clarifies the application of the vested retirement statute. If you have any questions or wish to discuss specific cases in more detail please let me know. The Board will review the rate again in six months. Regular Interest is credited to member accounts. It is also charged to members on the outstanding balance of separation benefit repayments or delinquent contributions.
Any interest paid by members is credited to their accounts.
Interest is compounded monthly. By Idaho law, the rate may be reviewed and changed periodically by the Retirement Board. The interest rate is more stable than the portfolio return and reflects the rate of return from an easily accessible investment instrument. Some years the portfolio returns exceed the regular interest rate. Other years, the interest rate may exceed the investment returns.