PSERS sets employer contribution rate for 2021-22
Last week, the Public School Employees Retirement System (PSERS) Board of Trustees certified an annual employer contribution rate of 34.94% for fiscal year 2021-22, which begins on July 1, 2020.
The board also certified and retained the current T-E member contribution rate of 7.5%, T-F member contribution rate of 10.3%, TG member contribution rate of 8.25% (defined benefit rate 5.50% ; DC rate 2.75%) and TH member contribution rate of 7.5% (defined benefit rate 4.5%; DC rate 3%) for the three-year period from July 1, 2021 to June 30, 2024 in accordance with the shared risk provisions of PSERS' retirement code.