Contributions, Salary & Service

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 Plan or DC Plan (EODCRS).

Tier 1 Members
DB Plan Only

Tier 2 Members
DB Plan Only

Tier 3 Members

DC Plan (EODCRS) Only

7.0% for those hired before July 20, 2011¹

13.0% for those hired on or after July 20, 2011¹

13.0%

EODCRS Contribution 8.125% (includes .125% for EODCRS Disability)

For additional Retirement Paths and Rates, see EODCRS

¹EORP Employee Contribution Rate Changes

As a result of 2011 S.B. 1609, employee contribution rates were gradually increased starting in FY 2011/2012 from 7% up to 13% until approximately April 2017. However, as a result of subsequent court rulings, employee contribution rates were rolled back to 7% for the Tier 1 Members For, Tier 1 Members with a membership date on or after July 20, 2011 and through December 31, 2011, the employee contribution rate will remain based on the Tier 2 Membership since these members became a member after the effective date of the legislation pursuant to SB1609 (2011).  For Tier 1 Members that qualified, the excess contributions, plus interest, have been returned to the employers and will need to be issued back to the employees from the employers.  

Average Monthly Salary

When you become eligible for a Retirement Benefit from the EORP, 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. 

If an employee does not have 5 consecutive years of credited service as an elected official, the considered period is the employee's last consecutive period of employment with a Plan employer immediately before retirement.

Membership Tier 3

Elected Officials’ Defined Contribution Retirement System (EODCRS) Plan

Does not apply; contact Nationwide Retirement Solutions for benefits.

 

Service versus Credited Service

Your eligibility to receive a pension and how that benefit is calculated is based on two different service criteria’s:

Your eligibility for a normal pension, under most circumstances, is based solely on your service within the Plan.  Your service is all the time that is accounted for during your continuous employment and participation in the EORP.  Think of this as the running clock that starts when you first participate in the EORP and continues as long as you remain employed in a covered EORP position.

Credited service is that time while you participate in EORP 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.

 

PSPRS Administrative Office is the Local Board for EORP

As a member of the EORP, the PSPRS Administrative Office and Board of Trustees determines your benefit eligibility.  For benefit inquiries, please Contact Us for assistance.

Additional Resources

You may access your account at Members Onlyor you may Contact Us for an estimate or retirement packet. For additional benefit information, you may access the EORP Member Handbook.