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What is the new Guaranteed Fund Rate?
Members who invest Annuity Savings Account (ASA) funds in the Guaranteed Fund will earn an annual return of 0.28 percent beginning July 1, 2012.
When is the new Guaranteed Fund Rate effective?
The new rate is effective July 1, 2012, and continues through June 30, 2013.
Who sets the Guaranteed Fund Rate?
The rate is set annually by the Indiana Public Retirement System (INPRS) Board of Trustees.
What is the Guaranteed Fund?
The Guaranteed Fund is 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.
Is the Guaranteed Fund rate market competitive?
The Guaranteed Fund offers a return that is as good as or better than members could find in a similar investment product elsewhere. Money Market rates are at 0.10 - 1.05 percent1, one-year bank CD rates are at 0.10 - 1.15 percent1, and one-year U.S. Treasury Bill rates are at 0.17 percent2. Two-year U.S. Treasury Notes are at 0.26 percent2 . (1Source: Bankrate.com 6/6/2012; 2Source: Bloomberg, 6/6/2012)
The fund has done well in the market lately, why can’t the fund pay a higher interest rate?
The fund’s board of trustees is focused on prudent management of the fund’s assets. The Guaranteed Fund offers a return that is as good as or better than members could find in a similar investment product elsewhere.
What other investment options are available to me?
The Guaranteed Fund is included in a lineup of investment funds that provide members greater control in saving for their retirement futures. Members may select from investment options including: