Contribution rates for employee and employers are either established by statute, or may be actuarially determined each fiscal year based on the funding levels of the Plans and an employee's Membership Tier. To view the funding levels and contribution rates by Plan/employer, see the Employer Valuations section on the Annual Reports (CAFR & Actuarial) webpage.
PSPRS
Tier 1 Employee Contribution Rates
|
Membership Date prior to 7/20/2011 DB Plan Only |
Membership Date on or after 7/20/2011 through December 31, 2011 DB Plan Only |
|
7.65%¹ |
11.65%¹ |
Tier 2 Employee Contribution Rates
|
DB Plan Only |
DB Plan + DC Plan (hybrid) for Non-Social Security positons |
|
11.65% |
14.65% (11.65% DB + 3.0% DC) |
All PSPRS Membership Tiers:
- Beginning Fiscal Year 2020-2021, employers will obtain employee and employer rates from the individual employer valuations; see Contribution Rates & Reporting webpage for instructions.
- Contribution Rates -- Fiscal Year 2019-2020 (pay periods ending 7/1/19 - 6/30/20)
- Contribution Rates -- Fiscal Year 2018-2019 (Tier 1, 2 and 3 Employee and Employer Rates for pay periods ending 7/1/18 - 6/30/19)
- PSPRS (Tier 3 Employee Rates for Fiscal Year 2017-2018; pay periods ending 7/1/17 - 6/30/18)
- PSPRS (Tier 1, 2 and 3 Employer Rates for Fiscal Year 2017-2018; pay periods ending 7/1/17 - 6/30/18)
- PSPRS (Tier 3 Employer Rates for Fiscal Year 2016-2017; pay periods ending 7/1/16 - 6/30/17)
¹PSPRS Tier 1 Employee Contribution Rate Changes
As a result of 2011 S.B. 1609, employee contribution rates were gradually increased starting in FY 2011/2012 from 7.65% up to 11.65% until approximately April 2017. However, as a result of subsequent court rulings, employee contribution rates were rolled back to 7.65% for employees whose PSPRS membership date is prior to July 20, 2011. 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 who 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.
CORP
Employee Contribution Rates
|
Tier 1 and 2 Members DB Plan Only |
Tier 3 Members DB and DC Plans |
||
|
Non-dispatcher 8.41% |
Dispatcher 7.96% |
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: An election amount by the member from 5% to as much as the IRS limit; default rate is 7.0%. All members in the DC Plan will also pay 0.7% to the DC disability plan. |
|
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. |
||
- Beginning Fiscal Year 2019-2020, employers will obtain employee and employer rates from the individual employer valuations; see Contribution Rates & Reporting webpage for instructions.
- Contribution Rates -- Fiscal Year 2018-2019 (Tier 1, 2 and 3 Employee and Employer Rates for pay periods ending 7/1/18 - 6/30/19)
- CORP (Employer Rates for Fiscal Year 2017-2018; pay periods ending 7/1/17 - 6/30/18)
- CORP (Employer Rates for Fiscal Year 2016-2017; pay periods ending 7/1/16 - 6/30/17)
EORP AND EODCRS: Click here to visit our EODCRS webpage for current and previous rates.
