Employee Contribution Rates
During your career and as a requirement of membership, you must contribute a percentage of your base salary each paycheck. Your contribution rate may vary each fiscal year depending on your Membership Tier and if you are in the DB or DC Plan.
|
Tier 1 & 2 Members DB Plan Only |
Tier 3 Members DB and DC Plans |
|
|
Members: 7.65% - 8.41%* |
All Correction/Detention contribute to the DC Plan: Contributions begin upon hire date; complete Membership Form provided by your Employer. Probation/Surveillance who elect DC Plan: Make election within first 90 days; see New Members Page under CORP. |
Defined Contribution (DC) Plan: Default rate is 7.0%. Members may contribute from 5% to the IRS maximum. |
|
Probation/Surveillance who elect DB Plan: Make election within first 90 days; see New Members Page under CORP. |
Defined Benefit (DB) Plan: Rates may change each fiscal year; see the following table for employee contribution rates. |
|
Tier 3 Defined Benefit (DB) Employee Contribution Rates
|
Fiscal Year |
Employee Contribution Rate |
|
2024 – 2025 (pay periods July 1, 2024 to June 30, 2025) |
8.38% |
|
2023 – 2024 (pay periods July 1, 2023 to June 30, 2024) |
9.81% |
|
2022 – 2023 (pay periods July 1, 2022 to June 30, 2023) |
10.18% |
|
2021 – 2022 (pay periods July 1, 2021 to June 30, 2022) |
10.18% |
|
2020 – 2021 (pay periods July 1, 2020 to June 30, 2021) |
10.18% |
|
2019 – 2020 (pay periods July 1, 2019 to June 30, 2020) |
10.18% |
|
2018 – 2019 (pay periods July 1, 2018 to June 30, 2019) |
9.90% |
Average Monthly Salary
When you become eligible for a Retirement Benefit, the average monthly salary is used in the calculation to determine your monthly benefit payment.
|
Membership Tier 1 |
Highest average of 36 consecutive months of salary within the last 10 years of service. |
|
Membership Tier 2 |
Highest average of 60 consecutive months of salary within the last 10 years of service. |
|
Membership Tier 3 DB Members Only |
Highest average of 60 consecutive months of salary within the last 10 years of service. |
Service Versus Credited Service
Your eligibility to receive a pension and how that benefit is calculated is based on two different service criteria:
Your eligibility to receive a normal pension is based on your service within the Plan. Your service is all the time that is accounted for during your continuous employment and participation in the CORP. Think of this as the running clock that starts when you first participate in the CORP and continues as long as you remain employed in a CORP designated position.
Credited service is that time while you participate in CORP that is covered by your contributions into the Plan, in addition to any redemption/transferring of eligible time. So, any pay periods where you may have been on an unpaid leave is not considered credited service. Credited service is the time used to calculate your pension benefit.
Additional Resources
For additional resources, Plan summary, guide books and forms, you may access our Forms & Resources webpage and for the latest news and information, we encourage you to Sign Up for News and Updates. To estimate future benefits, you may access your Members Only online account, or contact your Local Board for an estimate, or retirement packet. If you are not certain who the Local Board contact person is, please Contact Us, or visit our Applying for Benefits webpage for retirement information.
