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Prelim Earning
Preliminary 2004 Earnings Crediting for Tier One/Tier Two
 
The PERS Board made preliminary 2004 earnings crediting decisions for Tier One/Tier Two members at its February 18, 2005 meeting.
 
The Board made the preliminary decision to pay off the Tier One deficit reserve so 2004 earnings can be credited to Tier One accounts. The Board slated 8 percent crediting for Tier One accounts.
 
The Board preliminarily credited 12.34 to 13.34 percent earnings to Tier Two accounts.
 
If preliminary variable account earnings do not change, variable accounts will be credited with 12.96 percent.
 
Crediting amounts are estimates and actual amounts will be determined when the year-end 2004 annual closing process is completed in late March. The Board is expected to do final 2004 earnings crediting at its March 29, 2005 meeting.