Monday, January 25, 2016

DROP Interest Rate Approved

The rate of interest to be paid on eligible (non-Self Directed Plan) DROP accounts for the fiscal year that ended June 30, 2015, is 10.14 percent. Interest is paid on the LASERS investment earnings, which are then smoothed as part of the System's annual valuation. The Public Retirement Systems' Actuarial Committee (PRSAC) approved the interest rate at its January 21, 2016 meeting. The interest has been posted to accounts, and statements will be mailed in January 2016.

Participants in the Self-Directed DROP plan do not receive this interest, but participate in earnings or losses based upon the choices they have made in their investment allocations through Empower Retirement. Eligible LASERS members will receive DROP annual statements in January 2016.

Wednesday, January 13, 2016

Need a New Year's Resolution?

If you are still contemplating a New Year's Resolution, LASERS has one for you!

Learn as much as you can about your retirement in 2016. Start with LASERS: Your Retirement System, a new video training class for new and existing state employees.
The class takes about 15 minutes and the training provides:
  • An overview of the retirement system,
  • Specific details about the benefits of LASERS defined benefit plan,
  • Resources on how to deepen retirement knowledge.

You can view the class through the LEO Portal or by watching on YouTube. Click here for detailed information.

Get ahead of the game in 2016 and be on top of your LASERS retirement! Happy New Year!