Subject: DRS Email 13-016, Contribution Rate Changes for PERS,...

  • Notice No.: 13-016
  • Date: July 1, 2013
  • Applies to: PERS, PSERS, and LEOFF Employers
  • Subject: DRS Email 13-016, Contribution Rate Changes for PERS, PSERS, and LEOFF

PENSION CONTRIBUTION RATES

The Legislature approved a budget which the Governor has signed. No changes were made to the rates previously adopted by the Pension Funding Council and the LEOFF Plan 2 Board that we provided in May.

The contribution rates are presented in the charts below and are effective July 1, 2013. Only those systems and plans that have a change in their rates are listed. Please note the rates for SERS and TRS will change effective September 1 and will be provided under a separate notice in late July.

ADMINISTRATIVE RATE CHANGE COMING

Effective September 1, 2013, the administrative rate will be increasing from .16 to .18 (please see DRS Email 13-005 for details). Consequently, the employer rates for PERS, PSERS and LEOFF will be changing again. A DRS notice will be sent in late July reflecting this change.

Contribution Rates Effective July 1, 2013 (Employer rates include 0.16% DRS administrative expense rate)

(Bold indicates rate change)

Plan 1

Plan 2

Public Employees’ Retirement System (PERS)

Percent

Rate

Percent

Rate

Member Contribution Rate

6.00%

0.0600

4.92%

0.0492

Employer Contribution Rate

9.19%

.0919

9.19%*

0.0919*

PERS State Government Elected Officials

Member Contribution Rate

7.50%

0.0750

4.92%

0.0492

Employer Contribution Rate

13.71%

0.1371

9.19%*

0.0919*

PERS JBM State Agencies – Supreme Court Justices, Appeals and Superior Court Judges

Member Contribution Rate

9.76%

0.0976

9.80%

0.0980

Employer Contribution Rate

11.69%

0.1169

11.69%*

0.1169*

PERS JBM Counties & Cities – District Court Judges & Municipal Court Judges

Member Contribution Rate

12.26%

0.1226

12.30%

0.1230

Employer Contribution Rate

9.19%

0.0919

9.19%*

0.0919*

Public Safety Employees’ Retirement System (PSERS)

Member Contribution Rate

NA

NA

6.36%

0.0636

Employer Contribution Rate

NA

NA

10.52%

0.1052

Law Enforcement Officers’ and Fire Fighters

Retirement System (LEOFF)

Cities, Counties, and Fire Districts, etc.

Member Contribution Rate

0.00%

0.0000

8.41%

0.0841

Employer Contribution Rate

0.16%

0.0016

5.21%

0.0521

State Contribution Rate

0.00%

0.00%

3.36%

0.0336

Ports and Universities

Member Contribution Rate

NA

NA

8.41%

0.0841

Employer Contribution Rate

NA

NA

8.57%

0.0857

*Employer rates for Plan 3 are the same as for Plan 2.

Should you have questions, please reply to this notice or call Employer Support Services at 360-664-7200, option 2, or 800-547-6657, option 6, option 2.

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