Chapter 6: Contributions

Overview

Plan 3 Member Contribution Rates

PERS, SERS and TRS Plan 3 members select their member contribution rate from six contribution rate options. Review Contribution Rate Options for contribution rate option rules.

All member contributions in Plan 3 must be calculated on the rate in effect at the time the compensation is paid. If you need to adjust contributions previously paid, base your corrections on the contribution rate in effect when the original compensation was paid.

Plan 3 Employer Contribution Rates

The employer contribution rates for Plan 3 are the same as for Plan 2. All employer contributions in Plan 3 must be calculated on the rate in effect at the time the compensation is earned.

Plan 3 PERS JBM Contribution Rates

Plan 3 members who participate in the Judicial Benefit Multiplier program and their employers pay an additional contribution rate above the regular PERS rate. The additional amount is set in statute [RCW 41.40.124, RCW 41.40.127].

• Member contribution rate must be at least 7.5%. If the member’s current contribution rate is 7.5% or higher, there is no change in their contribution rate option.
• If the member contribution rate is less than 7.5%, you must report a higher rate.
• Plan 3 members can't choose the following rate options:
  • At all ages, 'A' or 'D'
  • If less than 35, 'C'
  • If less than 45, 'B'

Find all Plan 3 rates by system and plan in the Contribution Rate Tables Index.