Contribution Rates
Washington public service retirement benefits are funded by employees and their employers. Contribution rates can change every two years based on the needs of the plan.
How are contribution rates determined?
The state Pension Funding Council (PFC) sets contribution rates for the defined benefit systems every two years based on analysis and recommendations from the state actuary and input from the Select Committee on Pension Policy (SCPP). The actuary regularly recommends updates to assumptions so policymakers can adjust contribution rates as needed to fund the retirement benefits earned by members. The legislature has the authority to revise the rates and assumptions adopted by the Pension Funding Council, but is not required to do so.
Member contributions
The following tables include the member contribution rates for the 2023-25 biennium.
| System and Plan | Effective July 1, 2024 | Effective Sept. 1, 2024 | Effective Sept. 1, 2024 |
|---|---|---|---|
Public Employees’ Retirement System (PERS) Plan 2 | 6.36% | — | — |
Law Enforcement Officers’ and Fire Fighters’ Retirement System (LEOFF) Plan 1 | — | — | — |
Law Enforcement Officers’ and Fire Fighters’ Retirement System (LEOFF) Plan 2 | 8.53% | — | — |
Washington State Patrol Retirement System (WSPRS) Plans 1/2 | 8.61% | 8.74% | 8.75%* |
Public Safety Employees’ Retirement System (PSERS) Plan 2 | 6.60% | 6.73% | 6.76%* |
Teachers’ Retirement System (TRS) Plan 2 | — | 8.06% | — |
School Employees’ Retirement System (SERS) Plan 2 | — | 7.76% | — |
TRS 1 and PERS 1 member contribution rates are fixed in statute at 6% |
JBM Contribution Rates
| PERS Plan | Supreme Court Court of Appeals Superior Court | District Court Municipal Court |
|---|---|---|
| PERS Plan 1 | 9.76% (Plan 1 rate + 3.76%) | 12.26% (Plan 1 rate + 6.26%) |
| PERS Plan 2 | 13.4% (250% x Plan 2 rate – 2.5%) | 15.9% (250% x Plan 2 rate) |
| PERS Plan 3 | At least 7.5% | At least 7.5% |
| TRS Plan 1 | 9.76% (Plan 1 rate + 3.76%) | N/A |
History of Member Contribution Rates, 2013–2021
| Plan | 2015 | 2017 | 2019 | 2021 | 2023 |
|---|---|---|---|---|---|
| LEOFF 1 | 0% | 0% | 0% | 0% | 0% |
| LEOFF 2 | 8.41% | 8.75% | 8.59% | 8.53% | 8.53% |
| PERS 1 | 6% | 6% | 6% | 6% | 6% |
| PERS 2 | 6.12% | 7.38% 7.41%* | 7.90% | 6.36% | 6.36% |
| PSERS 2 | 6.59% | 6.73% 6.74% 7.07% | 7.20% | 6.50% | 8.74% |
| SERS 2 | 5.63% | 7.27% | 8.25% | 8.25% | 7.76% |
| TRS 1 | 6% | 6% | 6% | 6% | 6% |
| TRS 2 | 5.95% | 7.06% | 7.77% | 7.77% | 8.06% |
| WSPRS 1 | 6.84% | 7.34% 7.68%* 7.69%* | 8.45% | 8.61% | 8.74% |
| WSPRS 2 | 6.84% | 7.34% 7.68%* 7.69%* | 8.45% | 8.61% | 8.74% |
* Rate reflects supplemental adjustments
Employer Contributions
Where can I see what my employer is contributing?
For detailed information on both employer and member contribution rates, see the Contribution Rate Tables in the DRS Employer Handbook. One thing to note: the actual contributions are invested in the trust fund and are not viewable in your account, but you can see them on your paystub.
Can I withdraw the contributions from my employer?
No. The only way you receive your employer’s contributions is by receiving a monthly retirement pension from DRS.
Do employers provide matching funds for the Deferred Compensation Program (DCP)?
No. State employers do not offer matching funds in DCP. Although there are some local governments that offer matching funds to DCP or their own separate 457(b) or similar 401(k) or 403(b) plans.
When do you get employer contributions?
The only way you get your employer’s contributions is by receiving a monthly retirement pension from DRS.
How are employer contributions different for Plan 2 and Plan 3?
Both plans include employer contributions.
Plan 2: Plan 2 is a pension benefit plan which uses a 2% benefit multiplier. The employer funds 1% and the member funds the other 1%. All contributions are invested by the Washington State Investment Board which also funds the pension benefit.
Plan 3: Plan 3 is a pension benefit plan which uses a 1% benefit multiplier and includes an investment component. The 1% pension benefit part is funded by mandatory contributions made by employers and invested by the WSIB. Plan 3 members fund the investment component. They choose their investment program and contribution rate for the investment part of their plan.
All DRS pension benefits are guaranteed and are not dependent on investment performance.
