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.
No comments:
Post a Comment