by
<a href="mailto:candiceb@awcnet.org">Candice Bock</a>, <a href="mailto:brandona@awcnet.org">Brandon Anderson</a> | Jun 16, 2019
The Department of Retirement Systems (DRS) recently announced new employer contribution rates for pension plans.
The Department of Retirement Systems (DRS) recently announced new employer contribution rates for pension plans. Effective July 1, 2019, the LEOFF Plan 2, PERS Plan 2, PERS Plan 3, and the PSERS Plan 2 employer contribution rates will be adjusted as follows:
|
Plan
|
Employer rate effective July 1, 2019
|
Current rate
|
|
LEOFF Plan 2
|
5.33%*
|
5.43%
|
|
PERS Plan 2
|
12.86%*
|
12.83%
|
|
PERS Plan 3
|
12.86%*
|
12.83%
|
|
PSERS Plan 2
|
12.14%*
|
12.38%
|
*Includes 0.0018 administrative expense rate