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Tax-Deferred Interest on PERA Member Contribution Accounts
On January 1, 2010, the Denver Public Schools Retirement System (DPSRS) merged with Colorado PERA and as of January 1, 2010, DPSRS ceased to exist. As of January 1, 2010, DPSRS accounts are now PERA accounts under the DPS benefit structure and will earn 3 percent interest compounded annually.
If you refund your member contribution account under PERA and/or the DPS benefit structure, you will receive the interest earned as part of your refund.
Member Contribution Accounts Interest History—PERA Benefit Structure
On July 1, 1991, PERA began crediting tax-deferred interest on PERA benefit structure member contribution accounts. The initial interest rate was equal to the interest rate earned on 90-day U.S. Treasury Bills at the end of the previous year. The interest rate was not less than the prevailing passbook savings rate in Colorado, nor was it more than the actuarial investment assumption rate. This method of calculating the interest rate was in effect through June 30, 1995.
PERA’s interest rate is set by PERA’s Board of Trustees and beginning July 1, 2004, the interest rate is subject to change annually.
History of Interest Rate Changes
|
Dates |
Interest Rate Compounded Annually |
January 1, 2009—present |
3.00% |
| July 1, 2004—December 31, 2008 |
5.00% |
| January 1, 2004—June 30, 2004 |
6.80% |
January 1, 1997—December 31, 2003 |
7.00% |
July 1, 1995—December 31, 1996 |
6.80% |
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