Pension System Contribution Rates

The following is a simple chart of contribution rates for local governments and their employees. The rates reflect the repeal of gain-sharing, the cost of the January 2008 gain-sharing event, and the cost of the benefit enhancements enacted this past session (including those in ESB 2391).

For a more detailed chart showing the components of the various rates, go to the State Actuary’s website at http://osa.leg.wa.gov and click on Contribution Rates.  

PENSION CONTRIBUTION RATES – EMPLOYERS*
	1/1/07 - 6/31/07	7/1/07 - 8/31/07	9/1/07 - 6/30/08	7/1/08 - 6/30/09	7/1/09 - 6/30/11 (Projected)	7/1/11 - 6/30/13 (Projected)
PERS 1, 2, & 3**	5.46%	6.12%	6.13%	8.31%	9.10%	9.12%
PSERS	8.53%	8.54%	8.55%	9.43%	10.17%	10.24%
LEOFF 1	0.18%	0.18%	0.16%	0.16%	0.18%	0.16%
LEOFF 2	4.90%	5.35%	5.33%***	5.46%	5.39%	5.26%

 

PENSION CONTRIBUTION RATES – EMPLOYEES
	7/1/06 - 6/30/07	7/1/07 - 6/30/08	7/1/08 - 6/30/09	7/1/09 - 6/30/11 (Projected)	7/1/11 - 6/30/13 (Projected)
PERS 1	6.00%	6.00%	6.00%	6.00%	6.00%
PERS 2	3.50%	4.15%	5.45%	5.43%	5.38%
PSERS	6.57%	6.57%	6.57%	6.57%	6.57%
LEOFF 1	0.00%	0.00%	0.00%	0.00%	0.00%
LEOFF 2	7.85%	8.60%***	8.82%	8.71%	8.49%

Notes:

*	Employer rates include a .18% DRS expense rate, which reduces to .16% as of 9/1/07.
**	PERS employer rates include a component to fund the PERS 1 UAAL, which is 1.79% effective 7/1/07, increasing to 1.82% effective 9/1/07.
***	The State Actuary has recommended supplemental LEOFF 2 employer and employee rate increases effective 9/1/07of .03% for employees and .02% for employers, due to 2007 legislation. Assuming the LEOFF 2 Board adopts those recommendations, the LEOFF 2 employer rate will increase to 5.35% as of 9/1/07 and the LEOFF 2 member rate will increase to 8.63% as of that date.

 
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