DRS Notice
- Notice No.: e07-009
- Date: May 31, 2007
- Applies to: All Employers
- Subject: Contribution Rate Changes
Pension Contribution Rate Changes
New contribution rates are presented in the charts below and reflect the effective dates for each retirement system. Some rate changes are effective July 1, 2007, and others start September 1, 2007. These changes are the result of increases in the basic employer and member rates adopted by the Pension Funding Council, and pension bills passed during the 2007 legislative session.
The Law Enforcement Officers’ and Fire Fighters’ (LEOFF) Plan 2 Board is considering adopting supplemental rate changes, which could be effective September 1, 2007. If the Board chooses to change their rates, we will send you an additional email prior to the effective date.
View Email 07-018 for updated LEOFF Plan 2 contribution rates effective September 1, 2007 which include the LEOFF Plan 2 Board supplemental rate increase.
Announcement For Employees
We are providing the link below for your employee communications on the new retirement contribution rates. Members can access the new rates on the DRS Member site under Hot Topics.
| Contribution Rates Effective July 1, 2007 (Employer rates include 0.18% DRS administrative expense rate) |
||||
|---|---|---|---|---|
| Plan 1 | Plan 2 | |||
| Public Employees’ Retirement System (PERS) | Percent | Rate | Percent | Rate |
| Member Contribution Rate | 6.00% | 0.0600 | 4.15% | 0.0415 |
| Employer Contribution Rate | 6.12% | 0.0612 | 6.12%* | 0.0612* |
| PERS State Government Elected Officials | ||||
| Member Contribution Rate | 7.50% | 0.0750 | 4.15% | 0.0415 |
| Employer Contribution Rate | 9.09% | 0.0909 | 6.12%* | 0.0612* |
| Law Enforcement Officers’ and Fire Fighters’ Retirement System (LEOFF) | ||||
| Plan 1 | Plan 2 | |||
| Cities, Counties, Fire Districts, etc. | Percent | Rate | Percent | Rate |
| Member Contribution Rate | 0.00% | 0.0000 | 8.60% | 0.0860 |
| Employer Contribution Rate | 0.18% | 0.0018 | 5.35% | 0.0535 |
| State Contribution Rate | 0.00% | 0.0000 | 3.43% | 0.0343 |
| Ports and Universities | ||||
| Member Contribution Rate | NA | NA | 8.60% | 0.0860 |
| Employer Contribution Rate | NA | NA | 8.78% | 0.0878 |
| Public Safety Employees' Retirement System (PSERS) | ||||
| Member Contribution Rate | NA | NA | 6.57% | 0.0657 |
| Employer Contribution Rate | NA | NA | 8.54% | 0.0854 |
| Washington State Patrol Retirement System (WSPRS) | ||||
| Member Contribution Rate | 6.70% | 0.0670 | 6.70% | 0.0670 |
| Employer Contribution Rate | 7.93% | 0.0793 | 7.93% | 0.0793 |
*Employer rates for Plan 3 are the same as for Plan 2.
| Contribution Rates Effective September 1, 2007 (Employer rates include 0.16% DRS administrative expense rate) |
||||
|---|---|---|---|---|
| Plan 1 | Plan 2 | |||
| Public Employees’ Retirement System (PERS) | Percent | Rate | Percent | Rate |
| Member Contribution Rate | 6.00% | 0.0600 | 4.15% | 0.0415 |
| Employer Contribution Rate | 6.13%** | 0.0613** | 6.13%** | 0.0613** |
| PERS State Government Elected Officials | ||||
| Member Contribution Rate | 7.50% | 0.0750 | 4.15% | 0.0415 |
| Employer Contribution Rate | 9.12%** | 0.0912** | 6.13%** | 0.0613** |
| Law Enforcement Officers’ and Fire Fighters’ Retirement System (LEOFF) | ||||
| Plan 1 | Plan 2 | |||
| Cities, Counties, Fire Districts, etc. | Percent | Rate | Percent | Rate |
| Member Contribution Rate | 0.00% | 0.0000 | 8.60% | 0.0860 |
| Employer Contribution Rate | 0.16% | 0.0016 | 5.33% | 0.0533 |
| State Contribution Rate | 0.00% | 0.0000 | 3.43% | 0.0343 |
| Ports and Universities | ||||
| Member Contribution Rate | NA | NA | 8.60% | 0.0860 |
| Employer Contribution Rate | NA | NA | 8.76% | 0.0876 |
| Public Safety Employees' Retirement System (PSERS) | ||||
| Member Contribution Rate | NA | NA | 6.57% | 0.0657 |
| Employer Contribution Rate | NA | NA | 8.55%** | 0.0855** |
| Washington State Patrol Retirement System (WSPRS) | ||||
| Member Contribution Rate | 6.65% | 0.0665 | 6.65% | 0.0665 |
| Employer Contribution Rate | 7.86% | 0.0786 | 7.86% | 0.0786 |
**Employer rates for Plan 3 are the same as for Plan 1 & 2. The employer rates for PERS, PSERS and WSPRS reflect supplemental rate changes due to 2007 legislation and the reduction in the administrative rate from 0.18% to 0.16%.
| Contribution Rates Effective September 1, 2007 (Employer rates include 0.16% DRS administrative expense rate) |
||||
|---|---|---|---|---|
| Plan 1 | Plan 2 | |||
| Teachers' Retirement System (TRS) | Percent | Rate | Percent | Rate |
| Member Contribution Rate | 6.00% | 0.0600 | 2.90% | 0.0290 |
| Employer Contribution Rate | 5.82% | 0.0582 | 5.82%* | 0.0582* |
| TRS State Government Elected Officials | ||||
| Member Contribution Rate | 7.50% | 0.0750 | 2.90% | 0.0290 |
| Employer Contribution Rate | 5.82% | 0.0582 | 5.82%* | 0.0582* |
| School Employees' Retirement System (SERS) | ||||
| Member Contribution Rate | NA | NA | 3.90% | 0.0390 |
| Employer Contribution Rate | NA | NA | 5.88%* | 0.0588* |
*Employer rates for Plan 3 are the same as for Plan 2.
Questions?
If you have any questions regarding this DRS Notice, please contact Employer Support Services at (360) 664-7200, option 2, or 1-800-547-6657, option 6, option 2; or email us.