Do member’s contributions to the Retirement System earn interest?

Your contributions are placed in an individual annuity savings fund, which earns annual interest at a rate comparable to that of a passbook savings account. The interest rate is determined by the Public Employee Retirement Administration Commission and the Commissioner of Banks. This annual interest rate is independent of that earned on the Retirement System's investments.

Appears in: Retirement Board FAQs

Calendar of Events
Wed, Feb 8, 2023, 1:00 pm
Zoom
Wed, Feb 8, 2023, 5:30 pm
via Zoom (link will be posted on the agenda)
Posted to: City Council
Wed, Feb 8, 2023, 6:00 pm
John Zon Community Center – 35 Pleasant Street
Posted to: Public Schools