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, 2018, is 7.02 percent. The Public Retirement Systems’ Actuarial Committee (PRSAC) approved the interest rate at its January 9, 2019 meeting. The interest will be posted to accounts and statements mailed in January 2019.
Participants in the Self-Directed 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. LASERS Self-Directed Plan members will receive their first quarterly statement of the year from Empower Retirement in January 2019.