Kan. Admin. Regs. § 122-4-1

Current through Register Vol. 43, No. 50, December 12, 2024

Section 122-4-1 - Municipal investment pool; earnings

(a) All participants' earnings on investments in the municipal investment pool shall be calculated using the rate factors that are determined and quoted each day. Each participant's earnings shall be credited to the participant's account no later than the last calendar day of the month.

(b) A quoted rate factor shall be specified for each investment option available to participants. The rate factor shall be determined by the director of investments, subject to directives of the board. In determining the rate factor for each such investment option, consideration shall be given to the duration of the deposits, the interest rates available from competing investments available to participants, yield factors and other factors deemed relevant by the board. The quoted rate factors shall be net of the administrative fee authorized by section 1 of Chapter 254 of the 1996 Session Laws of Kansas.

Authorized by and implementing K.S.A. 1995 Supp. 12-1677a, as amended by L. 1996, Ch. 254, Sec. 4; effective, T-122-7-27-95, July 27, 1995; effective Nov. 17, 1995; amended Jan. 24, 1997.