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Board sets 5.5% interest on plan balances and 2.75% for first/last-year contributions
Summary
The Retirement Board approved a 5.5% interest-crediting rate on plan balances for 2026 and a 2.75% rate for first-year and final-year member contributions (pro-rated by days in plan).
The board approved two interest-crediting rates for 2026: 5.5% on balances and 2.75% for first-year and final-year member contributions, with pro-rata calculation by days in the plan. The 5.5% rate was moved by Matthew T. Frey and seconded by Matthew G. Quesenberry; the 2.75% first/last-year rate was moved by Patrick E. Straub and seconded by Matthew G. Quesenberry. Both motions carried unanimously.
The approved rates will be applied for plan accounting in 2026 and were presented as routine annual parameters. The first/last-year provision explicitly uses a pro-rata calculation based on days in the plan, per the motion language.
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