SECTION 1. Paragraph (b) of sub-section (6) of section 22 of chapter 32 of the General Laws, as appearing in the 2002 Official Edition, is hereby amended by adding at the end thereof the following sentence:--
For any calendar year beginning subsequent to December thirty-first, two thousand and four, regular interest for members of any retirement system shall mean interest credited at a rate of one-half the actuarial assumed rate of investment return for the members system. The rate shall be taken to the nearest tenth of one percent.
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