DRS Notice 24-017, Contribution Rate Changes for PERS, PSERS, SERS, TRS, and WSPRS
Posted on July 26, 2024
Date: 7/26/2024
Applies to: All Employers
Subject: DRS Notice 24-017, Contribution Rate Changes for PERS, PSERS, SERS, TRS, and WSPRS
Pension contribution rates
The contribution rates presented in the chart below become effective Sept. 1, 2024.
The 2024 legislative session made contribution rate changes based on passage of the following bills:
- ESSB 5294 – Concerning actuarial funding of state retirement systems.
- SHB 1985 – Providing a benefit increase to certain retirees of the Public Employees’ Retirement System Plan 1 and the Teachers’ Retirement System Plan 1.
- SSB 6106 – Including in the Public Safety Employees’ Retirement System specified workers at department of social and health services institutional and residential sites that serve civilly committed residents or serve patients under not guilty by reason of insanity findings.
- 2SHB 2014 – Concerning the definition of veteran and restoring honor to veterans.
Employers who have additional questions regarding this notice should contact DRS Employer Support Services at 360-664-7200, option 2, or 800-547-6657, option 6, option 2, or email us.
Contribution Rates Effective 9/1/2024
(Employer rates include 0.20% DRS administrative expense rate)
| (Bold indicates rate change) | Plan 1 | Plan 2 | ||
|---|---|---|---|---|
| Public Employees’ Retirement System (PERS) | ||||
| Member Contribution Rate | 6.00% | 0.0600 | 6.36% | 0.0636 |
| Employer Contribution Rate | 9.11% | 0.0911 | 9.11%* | 0.0911* |
| PERS State Government Elected Officials | ||||
| Member Contribution Rate | 7.50% | 0.0750 | 6.36% | 0.0636 |
| Employer Contribution Rate | 13.57% | 0.1357 | 9.11%* | 0.0911* |
| PERS JBM State Agencies – Supreme Court Justices, Appeals and Superior Court Judges | ||||
| Member Contribution Rate | 9.76% | 0.0976 | 13.40% | 0.1340 |
| Employer Contribution Rate | 11.61% | 0.1161 | 11.61%* | 0.1161* |
| PERS JBM Counties & Cities – District Court Judges & Municipal Court Judges | ||||
| Member Contribution Rate | 12.26% | 0.1226 | 15.90% | 0.1590 |
| Employer Contribution Rate | 9.11% | 0.0911 | 9.11%* | 0.0911* |
| Public Safety Employees’ Retirement System (PSERS) | ||||
| Member Contribution Rate | NA | NA | 6.76% | 0.0676 |
| Employer Contribution Rate | NA | NA | 9.51% | 0.0951 |
| School Employees’ Retirement System (SERS) | ||||
| Member Contribution Rate | NA | NA | 7.76% | 0.0776 |
| Employer Contribution Rate | NA | NA | 10.51%* | 0.1051* |
| Teachers’ Retirement System (TRS) | ||||
| Member Contribution Rate | 6.00% | 0.0600 | 8.06% | 0.0806 |
| Employer Contribution Rate | 9.86% | 0.0986 | 9.86%* | 0.0986* |
| TRS State Government Elected Officials | ||||
| Member Contribution Rate | 7.50% | 0.0750 | 8.06% | 0.0806 |
| Employer Contribution Rate | 9.86% | 0.0986 | 9.86%* | 0.0986* |
| TRS JBM State Agencies – Supreme Court Justices, Appeals and Superior Court Judges | ||||
| Member Contribution Rate | 9.76% | 0.0976 | NA | NA |
| Employer Contribution Rate | 9.86% | 0.0986 | NA | NA |
| Law Enforcement Officers' and Fire Fighters' Retirement System (LEOFF) | Percent | Rate | Percent | Rate |
| Cities, Counties, and Fire Districts, etc. | ||||
| Member Contribution Rate | 0.00% | .0000 | 8.53% | 0.0853 |
| Employer Contribution Rate | 0.20% | .0020 | 5.32% | 0.0532 |
| State Contribution Rate | 0.00% | .0000 | 3.41% | 0.0341 |
| Ports and Universities | ||||
| Member Contribution Rate | NA | NA | 8.53% | 0.0853 |
| Employer Contribution Rate | NA | NA | 8.73% | 0.0873 |
| Washington State Patrol Retirement System (WSPRS) | ||||
| Member Contribution Rate | 8.75% | 0.0875 | 8.75% | 0.0875 |
| Employer Contribution Rate | 18.00% | 0.1800 | 18.00% | 0.1800 |
*Employer rates for Plan 3 are the same as Plan 2.
