State Employee Out-of-Pocket Contribution Rate Changes July 1, 2016
The amount state employees pay out-of-pocket for the Public Employee Pension will increase from 2.055 percent to 2.305 percent on July 1, 2016. This adjustment is in keeping with a four-year plan for adjusting the employee contribution rate put in state law in 2013, which will be fully phased-in by July 1, 2017 when state employees in the Public Employee Pension will pay 2.68 percent of their required contribution. Many participating non-state employers follow the same pattern for the “pick-up” of the employee contribution. Check with your employer for specifics. The Public Employee Plan required employee (8.25%) and employer (8.37%) contribution rates remain the same for a total of 16.62 percent.
The out-of-pocket contribution for members of the Warden, Patrol & DCI Pension will also increase this July 1 to 2.30 percent and to 2.64 percent on July 1, 2017.
Learn more about the contribution increases that will be phased in through July 1, 2017 for the Public Employee Pension Plan and the Warden, Patrol and DCI Plan...