At its January 26, 2022 meeting, the Board of Trustees of the Police Retirement System, upon certification by its actuary, Cheiron, accepted a report that the System investment portfolio return for the Fiscal year ending September 30, 2021 was up 21.4 percent.

In keeping with the System’s Plan Document, this means the DROP interest rate as of October 1, 2021 is 21.4 percent.  This means that anyone with a DROP account balance existing on October 1, 2021 will receive this 21.4 percent rate of return at the earlier of October 1, 2022 or distribution.  For any member who was in DROP as of October 1, 2021 who takes distribution, i.e., payout, during the course of the current Fiscal Year (which ends September 30, 2022), the 21.4 percent rate of return will be applied in proportion to the portion of the year preceding the date of distribution.

How does this DROP interest rate compare with DROP interest rates for previous years?  Click on the below link to see a history of DROP interest rates for System members.

DROP Interest Rates 1996 to Present - Updated 01-26-2022.pdf