At its February 26, 2025 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, 2024 was up 18.5 percent.

In keeping with the System’s Plan Document, this means the DROP interest rate as of October 1, 2024 is 18.5 percent.  This means that anyone with a DROP account balance existing on October 1, 2024 will receive this 18.5 percent rate of return at the earlier of October 1, 2024 or distribution.  For any member who was in DROP as of October 1, 2024 who takes distribution, i.e., payout, during the course of the current Fiscal Year (which ends September 30, 2025), the 18.5 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?  See the attached link to see a history of DROP interest rates for System members.

DROP Interest Rates 1996-Present