How much do members contribute to the Retirement System?

The amount each employee is required to contribute to the retirement system each year is set by statute. If you began employment on or after July 1, 1996, you must contribute nine percent of your regular compensation to the Retirement System. If you were hired any time between January 1, 1984 and July 1, 1996 your contribution rate is set at eight percent. Members who joined the system any time between 1975 and 1983 contribute seven percent. Those employees who became members prior to 1975 are contributing five percent. The law also mandates that for members whose employment commenced on or after January 1, 1979, an additional two percent of regular compensation will be withheld on compensation over $30,000. This two percent is in addition to the seven, eight, or nine percent that is already being deducted from total regular compensation.

Appears in: Retirement Board FAQs

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