Monday, August 3, 2009
August is Here! Yield on 30-yr. Treasury Closes at 4.42% on First Day of August Trading
The yield on the 30-year Treasury closed at 4.42% today, the first trading day in August. If you have been following our blog, you know that August is the month that will set the GATT Rate for 4th Quarter 2009 retirements. So far, the rate is well above the rate currently in effect for the 3rd Quarter (4.23%). Unless something changes drastically over the next few weeks, it is likely that pension lump sums will be lower in the 4th Quarter than in the 3rd Quarter. We’ll be following the changes in the interest rate very closely on this blog. If you have any questions about this or any other aspect of your retirement, please call Harris Financial Group at (800) 281-3980 or (804) 526-0544.