### Question
What does applicable interest rate mean?


### Answer
**Applicable interest rate** has the following meaning in *29 U.S.C. § 1055*:

> the annual rate of interest on 30-year Treasury securities for the month before the date of distribution or such other time as the Secretary of the Treasury may by regulations prescribe

#### Citation:
  - *29 U.S.C. § 1055*
  - Heading: **CHAPTER 18-EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle B-Regulatory Provisions > part 2-participation and vesting**

