Common use of DROP Accounts Clause in Contracts

DROP Accounts. For each DROP Participant, an individual DROP Account shall be created in which shall be accumulated at DROP Interest the participant’s DROP Benefits. All individual DROP Accounts shall be maintained for the benefit of each DROP Participant and will be managed by the Retirement Board in the same manner as the primary pension fund. DROP Interest for each DROP Participant shall be at a fixed rate of 7.5% per annum.

DROP Accounts. For each DROP Participant, an individual DROP Account shall be created in which shall be accumulated at DROP Interest the participant’s DROP Benefits. All individual DROP Accounts shall be maintained for the benefit of each DROP Participant and will be managed by the Retirement Board in the same manner as the primary pension fund. DROP Interest for each DROP Participant shall be at a fixed rate of 7.5% per annum.

DROP Accounts. For each DROP Participant, an individual DROP Account shall be created in which shall be accumulated at DROP Interest Interest, the participantParticipant’s DROP Benefits. All individual DROP Accounts shall be maintained for the benefit of each DROP Participant and will be managed by the Retirement Board in the same manner as the primary pension fund. DROP Interest for each DROP Participant shall be at a fixed rate of 7.5% per annum.DROP

DROP Accounts. For each DROP Participant, an An individual DROP Account shall be created for the Participant in which the Participant’s DROP Benefits shall be accumulated at DROP Interest the participant’s DROP Benefitsaccumulated. All The individual DROP Accounts Account shall be maintained for the benefit of each DROP the Participant and will be managed by the Retirement Board in the same manner as the primary pension fundother funds held in the Retirement System. The Participant’s DROP Interest for each DROP Participant account shall be at a fixed rate of 7.5% per annumentitled to such annual interest determined by the Retirement Board for interest paid to Retirement Plan members that withdraw their contributions upon employment separation.

DROP Accounts. For each individual DROP Participant, an individual a DROP Account shall be created in which shall be accumulated at DROP Interest the participantParticipant’s DROP Benefits. All individual DROP Accounts shall be maintained for the benefit of each DROP Participant and will be managed by the Retirement Board in the same manner as the primary pension fund. DROP Interest for each DROP Participant shall be at a fixed rate of 7.5% per annum.DROP

DROP Accounts. For each DROP Participant, an An individual DROP Account shall be created for the Participant in which the Participant’s DROP Benefits shall be accumulated at DROP Interest the participant’s DROP Benefitsaccumulated. All The individual DROP Accounts Account shall be maintained for the benefit of each DROP the Participant and will be managed by the Retirement Board in the same manner as the primary pension fund. DROP Interest for each DROP Participant shall be at a fixed rate of 7.5% per annumother funds held in the Retirement System.