New DRS pension rates to go into effect on July 1 for PERS, PSERS and LEOFF

The Department of Retirement Systems (DRS) recently provided notice of pending contribution rate changes for the LEOFF, PERS, PSERS and the WSPRS pension systems. The new rates reflect changes made last year by the Pension Funding Council and the LEOFF Plan 2 Board. To be clear, the recent budget proposal to eliminate the state’s LEOFF 2 contribution has not passed into law and is not incorporated into the announced rates. These rates are scheduled to go into effect at the start of the new fiscal year on July 1, 2017. To read the full DRS notice, click here.