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Crediting of contributions and interest thereon to individual accounts.

San José Municipal Code § 3.44.120
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3.44.120 - Crediting of contributions and interest thereon to individual accounts. Each cost-of-living contribution made by each contributor other than the city pursuant to this Chapter 3.44 shall be credited by the director of finance to an individual account established for such person for such purpose; and accumulated cost-of-living contributions of each such person shall be credited with interest earned thereon at a reasonable rate fixed by the police and fire retirement board with respect to contributions who are members of the above-mentioned police and fire department plans, and fixed by the federated retirement board with respect to members of the federated retirement systems established by Chapter 3.24 and Chapter 3.28 of the San José Municipal Code. (Prior code § 2904.513.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.44CO-LAD_3.44.120CRCOINTHINACFetched: 11/1/2026

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