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Cash Balance Rates of Return & Dividends

 

The interest credit rate is defined in statute as the greater of 5%, or the applicable federal mid-term rate plus 1.5%. If the federal mid-term rate falls below 3.5%, you are guaranteed to receive a 5% return on your account. The interest credit rate is to be determined each calendar quarter (January, April, July and October) based on the federal mid-term rate that is published by the Internal Revenue Service as of the first day of that quarter. The rate is to be compounded annually.

Interest Credit Rates
Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Average
2017
5.00%
5.00%
2016
5.00%
5.00%
5.00%
5.00%
5.00%
2015
5.00%
5.00%
5.00%
5.00%
5.00%
2014
5.00%
5.00%
5.00%
5.00%
5.00%
2013
5.00%
5.00%
5.00%
5.00%
5.00%
2012
5.00%
5.00%
5.00%
5.00%
5.00%
2011
5.00%
5.00%
5.00%
5.00%
5.00%
2010
5.00%
5.00%
5.00%
5.00%
5.00%
2009
5.00%
5.00%
5.00%
5.00%
5.00%
2008
5.08%
5.00%
5.00%
5.00%
5.02%
2007
6.08%
6.11%
6.45%
5.85%
6.12%
2006
5.98%
6.22%
6.55%
6.32%
6.27%
2005
5.26%
5.59%
5.36%
5.58%
5.45%
2004
5.02%
5.00%
5.61%
5.12%
5.19%
2003
5.00%
5.00%
5.00%
5.15%
5.04%

Each year, the Public Employees Retirement Board (PERB) uses the results of the annual actuarial valuation and the actuary's recommendation to determine if a benefit improvement can be made, such as payment of a dividend. All dividends must conform to the requirements stipulated in state statute and board policy. The plan must remain 100% actuarially funded before and after the dividend has been credited to eligible member accounts. Dividends will not be issued when poor market returns reduce plan assets.

Effective 2007, any dividends granted in the future will conform to the PERB's new policy which states that a dividend plus the annual interest credit (set by statute as the federal mid-term rate plus 1.5%) cannot exceed 8.0% unless a majority of the PERB agrees.

Dividends
Year Issued Dividend % For Time Period
2016
No Dividend
1/1/2015 - 12/31/2015
2015
State 4.53%
County 5.81%
1/1/2014 - 12/31/2014
2014
County 0.29%
1/1/2013 - 12/31/2013
2013
No Dividend
1/1/2012 - 12/31/2012
2012
No Dividend
1/1/2011 - 12/31/2011
2011
No Dividend
1/1/2010 - 12/31/2010
2010
No Dividend
1/1/2009 - 12/31/2009
2009
No Dividend
1/1/2008 - 12/31/2008
2008
State 5.18%
County 5.34%
1/1/2007 - 12/31/2007
2007
State & County 2.73%
1/1/2006 - 12/31/2006
2006
State 13.5%
County 16.4%
1/1/2005 - 12/31/2005
2005
State & County 2.8%
1/1/2004 - 12/31/2004
2004
State & County 3.088%
1/1/2003 - 12/31/2003



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