(b)

1. (1) In order to determine the distribution to each participant, charges and fees, the Treasurer of State shall:

   1. (A)

(i) Compute the daily rate of return of the trust for the preceding month.

1. (ii) The daily rate of return will be calculated as a monthly annualized yield assuming daily amortization/accretion of all fixed income securities held by the trust and any realized profits or losses; and

   1. (B) Calculate the daily earnings of each participant by multiplying the participant’s daily balance on deposit in the trust by the net daily rate of return.
2. (2) The monthly sum of each participant’s daily earnings, less any administrative charges, will be credited to each participant’s account and reinvested, unless otherwise instructed by the participant, on the distribution day as described above.