New contribution rates effective July 1, 2021
In February, the Retirement Board adopted the June 30, 2020 actuarial valuation report, which includes the employer and employee contribution rates effective July 1, 2021.
Employee Contribution Rates
Employee contribution rates for all members are changing.
Employee contribution rate tables are included in the actuarial valuation; however, some members contribute an additional percentage based on bargaining agreements that is not reflected in the report. To find your rate easily, refer to the Employee Contribution Rates booklet which lists employee rates, including the additional cost-sharing information, for all retirement tiers.
Employer Contribution Rates
Employer contribution rates are changing for all employers and all retirement tiers. The Employer Contribution Rates booklet outlines the key rate information found in the actuarial valuation report.