The Group D Cash Balance Account interest rate for calendar year 2022 will be 6.2% (0.24% bi-weekly), effective January 1, 2021. The cash balance interest as of January 1 is a rate equal to half of HMEPS’ net five-year investment return, but not less than 2.5% nor more than 7.5%, and divided by 26.
The Cash Balance Account is provided under the HMEPS Pension Statute only to Group D members. Interest is credited bi-weekly on a Group D member’s contributions to the account, and is payable to a former Group D member with at least one year of service in the pension plan.