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.