Effective Rates of Interest Projected to Increase in 2024

The Department of Employee Trust Funds (ETF) projects an increase in both the Core and Variable effective rates of interest in 2024.

The Core effective rate is projected to be between 8.8% and 9.2%, with the Variable effective rate between 20% and 24%.

These figures are merely projections based on preliminary 2023 investment performance of the WRS Trust Funds. 

The effective rate of interest is applied to your account balances once a year.

For the Core Fund, the effective rate includes a five-year smoothing that incorporates investment performance in the last five years. On the other hand, the Variable Fund’s effective rate fully recognizes the investment performance of the previous year and does not have the smoothing feature.

ETF will announce the actual effective rates in February 2024. The final rates will be reflected in your annual WRS Statement of Benefits in April 2024.

Below are the preliminary investment returns for calendar year 2023 and projections to be applied in 2024:
 

_{*Performance is net of fees}

_{**Applied to employees' account balances}