(a) Generally. The County Council shall set the rate of credited interest. A change in the rate of credited interest applies to interest allowed for months occurring after the effective date of the change compounded annually on each January 1.
(b) Rates. The rate of credited interest is 4.25%for the Employees' Retirement Plan; 3% for the Fire Service Retirement Plan; 3% for the Police Service Retirement Plan; and 4.25%for the Detention Officers' and Deputy Sheriffs' Retirement Plan.
(1985 Code, Art. 7, § 1-108) (Bill No. 90-01)