by
<a href="mailto:andrewp@awcnet.org">Andrew Pittelkau</a> | Jul 20, 2018
The Select Committee on Pension Policy (SCPP) recently recommended adjustments to pension contribution rates to the Pension Funding Council.
The Select Committee on Pension Policy (SCPP) recently recommended adjustments to pension contribution rates to the Pension Funding Council.
SCPP employer rates recommendation
|
System
|
Current employer rate
|
SCPP recommended rate
|
Percent change
|
|
PERS
|
12.65%
|
12.68%
|
0.03%
|
|
TRS
|
15.23%
|
15.33%
|
0.10%
|
|
SERS 2/3
|
13.40%
|
13.01%
|
(0.39)%
|
|
PSERS 2
|
12.20%
|
11.96%
|
(0.24)%
|
The Pension Funding Council meets on Thursday, July 26 to consider adopting the new rates. Contribution rates are set every two years per a statutory process and rates adopted this year will be effective starting in the 2019-21 biennium.
The Pension Funding Council adopts rates for every pension system except for the Law Enforcement Officer and Fire Fighter (LEOFF) Plan 2.