State retirement plan contributions change effective July 1
Employee and employer contribution rates for the following retirement plans will change on July 1, 2021, as approved by the State Legislature. The state Pension Funding Council adjusts contribution rates every two years, as needed, to fund the retirement benefits earned by members.
The PERS employer rate changed to 10.25% for PERS plan 3 and PERS JBM plans 1 and 3.
The new contribution amounts will be deducted from your second paycheck in July:
- If you are paid every other Thursday, your new contribution will appear on your July 22 paycheck.
- If you are paid on the 5th and 20th of the month, your new contribution will appear on your July 20 paycheck.
More information is available on the Washington State Department of Retirement Systems (DRS) Member Contribution Rates webpage. If you have any questions about the rate change, please contact DRS at 800-547-6657 or email@example.com.