diff --git a/contracts/eosio.system/src/eosio.system.cpp b/contracts/eosio.system/src/eosio.system.cpp
index 80a4cd6..edb07ec 100644
--- a/contracts/eosio.system/src/eosio.system.cpp
+++ b/contracts/eosio.system/src/eosio.system.cpp
@@ -461,7 +461,8 @@ namespace eosiosystem {
    bool system_contract::execute_next_schedule()
    {
       auto itr = _schedules.begin();
-      if ( itr->annual_rate == 0 ) return false; // row is empty
+      if (itr == _schedules.end()) return false; // no schedules to execute
+
       if ( current_time_point().sec_since_epoch() >= itr->start_time.sec_since_epoch() ) {
          _gstate4.continuous_rate = get_continuous_rate(itr->annual_rate);
          _schedules.erase( itr );
diff --git a/tests/eosio.system_schedules_tests.cpp b/tests/eosio.system_schedules_tests.cpp
index 5d21ae9..b617a52 100644
--- a/tests/eosio.system_schedules_tests.cpp
+++ b/tests/eosio.system_schedules_tests.cpp
@@ -24,10 +24,11 @@ BOOST_FIXTURE_TEST_CASE(set_schedules, eosio_system_tester) try {
    BOOST_REQUIRE_EQUAL( success(), setschedule(start_time, 200) ); // allow override existing schedules
    BOOST_REQUIRE_EQUAL( success(), delschedule(start_time) );
 
-   // set 3 future schedules
+   // set 4 future schedules
    BOOST_REQUIRE_EQUAL( success(), setschedule(time_point_sec(start_time), 200) );
    BOOST_REQUIRE_EQUAL( success(), setschedule(time_point_sec(initial_start_time + YEAR * 4), 100) );
    BOOST_REQUIRE_EQUAL( success(), setschedule(time_point_sec(initial_start_time + YEAR * 8), 50) );
+   BOOST_REQUIRE_EQUAL( success(), setschedule(time_point_sec(initial_start_time + YEAR * 12), 0) );
 
    // current state prior to first schedule
    const double before = get_global_state4()["continuous_rate"].as_double();
@@ -49,6 +50,10 @@ BOOST_FIXTURE_TEST_CASE(set_schedules, eosio_system_tester) try {
    BOOST_REQUIRE_EQUAL( success(), execschedule(alice) );
    BOOST_REQUIRE_EQUAL( get_global_state4()["continuous_rate"].as_double(), 0.0049875415110390738 ); // 0.5% annual rate
 
+   produce_block( fc::days(365 * 4) ); // advanced to year 16
+   BOOST_REQUIRE_EQUAL( success(), execschedule(alice) );
+   BOOST_REQUIRE_EQUAL( get_global_state4()["continuous_rate"].as_double(), 0.0 ); // 0% annual rate
+
 } FC_LOG_AND_RETHROW()
 
 BOOST_AUTO_TEST_SUITE_END()