Employers - Contribution Rates Set

The PSRS/PEERS Board of Trustees, at their October Board meeting, set the PSRS and PEERS contribution rates for the 2010-2011 school year. The member and employer matching contribution rates will increase to 14% of compensation for PSRS members, and 6.63% of compensation for PEERS members. The contribution rate for those PSRS members who are required to contribute to Social Security will be 9.33% (two third’s the normal PSRS contribution rate as required by statute). The employer contribution rate required for full-time critical shortage retiree employment will increase to 9.33% for full-time PSRS retirees and 6.63% for the full-time PEERS retirees.

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	2010-2011 Contribution Rates Set The PSRS/PEERS Board of Trustees, at their October Board meeting, set the PSRS and PEERS contribution rates for the 2010-2011 school year. The member and employer matching contribution rates will increase to 14% of compensation for PSRS members, and 6.63% of compensation for PEERS members. The contribution rate for those PSRS members who are required to contribute to Social Security will be 9.33% (two third’s the normal PSRS contribution rate as required by statute). The employer contribution rate required for full-time critical shortage retiree employment will increase to 9.33% for full-time PSRS retirees and 6.63% for the full-time PEERS retirees.