The Teachers' Retirement Board of Directors  adopted an interest rate of 4.00% to be credited to the Regular Account and the Supplemental Account (pre 1989 1% Contributions, if applicable).  This interest rate will be applied to the June 30th balances of the prior year.  This rate will be applied to regular and supplemental account balances on a prorated basis if withdrawn.

The Board had previously changed the method of calculating the return on the Voluntary Account from a smoothed rate of return (an average, of sorts) to an investment rate of return (actual investment results for the current year) effective July 1, 2007.  The Board adopted an investment rate of return of 4.31%  to be applied to Voluntary Account balances.  This investment rate of return will be applied to the June 30th balances of the prior year.