Pennsylvania § 5939 - Interest reserve account.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 5939 — Interest reserve account., with citation guidance and answers to common questions.
§ 5939. Interest reserve account.
The interest reserve account shall be the ledger account to which shall be credited all income earned by the fund and to which shall be charged all administrative and investment expenses incurred by the fund. At the end of each year the required interest shall be transferred from the interest reserve account to the credit of each of the accounts of the fund in accordance with the provisions of this subchapter. In addition, at the end of each accounting period, the interest reserve account shall be credited or charged with all recognized changes in the market valuation of the investments of the fund. The administrative and investment expenses of the board relating to the administration of the system and investments of the fund shall be paid from the fund out of earnings. Any surplus or deficit in the interest reserve account at the end of each year shall be transferred to the State accumulation account.
(Mar. 4, 1982, P.L.141, No.45, eff. imd.; June 12, 2017, P.L.11, No.5, eff. imd.)
Cross References. Section 5939 is referred to in section 5932 of this title.
Frequently Asked Questions About Pennsylvania § 5939
What does Pennsylvania Consolidated Statutes § 5939 cover?
Section 5939 ("Interest reserve account.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 5939?
A common citation format is "Pennsylvania Consolidated Statutes § 5939" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 5939 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.