Credited Interest. Credited Interest" on a Participant's Contributions and Prior Plan Contributions, if any, shall mean interest for the number of full months from the date that such Contributions are received by the Administrator to the date specified herein. The initial rate of Credited Interest is 4% per annum compounded on each anniversary of the Effective Date. Any change in the rate of Credited Interest will apply to interest allowed after the effective date of such change.
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement