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Members who invest Annuity Savings Account (ASA) funds in the Guaranteed Fund will earn an annual return of 0.32 percent beginning July 1, 2014. The rate is set annually by the Indiana Public Retirement System (INPRS) Board of Trustees.
In setting the rate, board members considered comparable investment options which are publicly available. The new Guaranteed Fund rate setting formula is tied to a two-year U.S. Treasury Note.
The Guaranteed Fund offers an investment option that will not lose value, with a return that is as good as or better than members could find in a similar investment product elsewhere.
Currently, Money Market rates are at 0.05 - 0.95 percent1, one-year bank CD rates are at 0.20 - 1.07 percent1, and one-year U.S. Treasury Bill rates are at 0.09 percent2. Two-year U.S. Treasury Notes are at 0.43 percent2.
The Guaranteed Fund is one of the options in a lineup of investment funds that provide members greater control in saving for their retirement futures.
For all of the investment fund options, please click here.
If you have questions, please contact the customer service center Monday through Friday from 8 a.m. to 8 p.m. EST. Call (888) 526-1687 (PERF) or (888) 286-3544 (TRF) or send an e-mail to firstname.lastname@example.org.
1Source: Bankrate.com, 5/9/2014
2Source: Bloomberg.com, 5/12/2014