State announces changes to pension contribution rates

The Washington State Division of Retirement Services has announced the following changes to pension contribution rates:

The changes will only affect those WWU employees on the following pension plans: LEOFF, PERS, and TRS. The contribution rates for 2019-21 are presented in the charts below. The rates for LEOFF and PERS listed in the first chart are effective July 1, 2019. The contribution rates for TRS listed in the subsequent chart are effective Sept. 1, 2019.

 

Contribution Rates

Effective 7/1/2019

(Employer rates include 0.18% DRS administrative expense rate)

 

Plan 1

Plan 2

Law Enforcement Officers" and Fire Fighters" Retirement System (LEOFF)

Percent

Rate

Percent

Rate

Ports and Universities

 

 

 

 

Member Contribution Rate

NA

NA

8.59%

.0859

Employer Contribution Rate

NA

NA

8.77%

.0877

Public Employees' Retirement System (PERS)

 

 

 

 

Member Contribution Rate

6.00%

0.0600

7.90%

0.0790

Employer Contribution Rate

12.86%

0.1286

 12.86%*

 0.1286*

*Employer rates for Plan 3 are the same as Plan 2

         
 

Contribution Rates

Effective September 1, 2019

(Employer rates include 0.18% DRS administrative expense rate)

 

Plan 1

Plan 2

Teachers' Retirement System (TRS)

 

 

 

 

Member Contribution Rate

6.00%

0.0600

7.77%

0.0777

                        Employer Contribution Rate

15.51%

0.1551

15.51%*

   0.1551*

             

 

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Friday, June 14, 2019 - 8:51am

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