PRSAC Approves Drop Interest Rate

Sample Letter of Support for COLAs
February 25, 2014
Senate Retirement Committee Meeting Outcome
March 18, 2014

The rate of interest to be paid on eligible (non-Self Directed Plan) DROP accounts for the fiscal year that ended June 30, 2013 is 13.55%.  The Public Retirement Systems’ Actuarial Committee (PRSAC) approved the interest rate at its March 18 meeting.  To be eligible for interest, a DROP participant must have completed their accumulation period (usually 36 months after starting DROP) sometime during the 2012-2013 fiscal year.  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 Great-West.

Eligible LASERS members will receive DROP annual statements in April, 2014.

 

 

 

 

Comments are closed.