Electric distribution utilities typically operate within a 30-year financial cycle. Member equity is not cash until it is retired. It is in the form of credit for investment in the electric infrastructure. Thirty years is a normal life expectancy for infrastructure such as poles, transformers, and facilities that deliver electricity. Additionally, most debt on construction of the infrastructure is financed with 30-year loans. Retiring member equity on or near the same type of cycle is best practice in the industry.