1. (a) In accordance with Arkansas Code § 24-4-101(38), the rate of interest to be charged for all provisions of Chapter 4 of Title 24, where reference is made to regular interest, shall be the actuarially assumed rate of return as adopted by the Board of Trustees of the Arkansas Public Employees’ Retirement System from time to time.
2. (b) Unless otherwise directed by the board, the change in the level of regular interest shall become effective on the first day of the calendar year.
3. (c) Any commitment already in active payment status at that time, wherein the Arkansas Public Employees’ Retirement System has received at least one (1) installment payment, shall remain at the rate previously established by the board.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "408 – 1997 (5) – Regular Interest (as amended May 2001, November 2014)"