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Published on Friday, September 30, 2016

Pension Funding Council adopts new rates

Last month, the Pension Funding Council adopted rates as proposed by the Select Committee on Pension Policy. The rates reflect a six-year plan to phase-in rate increases that began in 2015. The rates adopted by the Council are:

 

Current rate

Proposed 2017-2019 rate

PERS

11%

12.52%

PSERS 2

11.36%

11.76%

The Council's vote is only a recommendation; and the Legislature will have the final say during the 2017 session.

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