MoDOT & Patrol Employees’ Retirement System
The following information outlines how interest is credited to the accounts of 2011 Tier members under the retirement system. Each year, eligible members—those who are either actively employed or vested—receive interest on their 4% payroll contributions.
Interest on Contributions
For members in the 2011 Tier, interest on your 4% payroll contributions will be credited to your account on June 30th of each year, provided you are either:
- Employed on that date, or
- Vested in the retirement system.
The interest is calculated based on the value of your account (including past contributions and previously credited interest) as of July 1st of the prior year.
Important Notes
- If you terminate employment and are not vested, interest credits will stop.
- If you are vested and terminate employment, interest credits will continue until your retirement or death.
Interest Rate
The interest rate used is the 52-week Treasury bill investment rate from the auction held closest to June 30th of the prior year.
Before June 30, 2014, a flat 4% interest rate was applied.
For more details, refer to Section 104.1091.8(5) RSMo, which outlines the interest crediting process.
See the table illustrating the interest to be credited to a 2011 Tier member’s account balance. The effective date is the date the interest was credited.
| Effective Date | Interest Rate |
|---|---|
| June 30, 2012 | 4.000% |
| June 30, 2013 | 4.000% |
| June 30, 2014 | 0.162% |
| June 30, 2015 | 0.112% |
| June 30, 2016 | 0.295% |
| June 30, 2017 | 0.570% |
| June 30, 2018 | 1.243% |
| June 30, 2019 | 2.347% |
| June 30, 2020 | 2.049% |
| June 30, 2021 | 0.157% |
| June 30, 2022 | 0.076% |
| June 30, 2023 | 3.070% |
| June 30, 2024 | 5.428% |
| June 30, 2025 | 5.024% |