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Interest Rates

The MainePERS Board of Trustees establishes the rate of interest that will be paid on contribution withdrawals.  For the 12-months beginning February 1, 2020, the interest rate paid on withdrawals is 1.92%.

This interest rate influences the cost of certain types of military and judicial service credit purchases because what is charged on those transactions is capped at 2% above the rate set by the Board.  As a result, for the 12-months beginning February 1, 2020, the interest rate charged in these service credit purchase transactions is 3.92%.

The interest rate charged for regular service credit purchases remains tied to the earnings assumption rate used in the valuation process, which is 6.75%.  This rate is also charged on benefit overpayments.

This table is a reference for the types of transactions and the corresponding interest rate.

Interest Rates