Board Adopts Interest Rate and Investment Rate of Return for June 30, 2013
The Teachers' Retirement Board of Directors at its June 26, 2013 meeting, adopted an interest rate of 7.20% to be credited to the Regular Account and the Supplemental Account (pre 1989 1% Contributions, if applicable) on June 30, 2013. This interest rate will be applied to the June 30, 2012 balances. This rate will be applied to regular and supplemental account balances on a prorated basis if withdrawn from the system thru June 30, 2014.
The Board had previously changed the method of calculating the return on the Voluntary Account from a smoothed rate of return (an average, of sorts) to an investment rate of return (actual investment results for the current year) effective July 1, 2007. The Board adopted an investment rate of return of 14.93% to be applied to Voluntary Account balances on June 30, 2013. This investment rate of return will be applied to the June 30, 2012 balances.
Content Last Modified on 6/26/2013 12:46:05 PM