The Department of Retirement Systems (DRS) has adopted new contribution rates for the 2021-23 biennium. Employer rates will come down from their current levels in the new biennium. The new rates go into effect July 1, 2021.
See the table below for the new rates.
Employer contribution rates |
|---|
Program | Current employer rates | 2021-2023 employer rates |
|---|
LEOFF 2 | 5.33% | 5.30% |
PERS | 12.79% | 10.25% |
PSERS | 12.07% | 10.39% |
These adopted rates are consistent with the contributions set in the state budget and include the standard 0.18% administrative expense rate. The full table with the new rates can be found on the DRS website.