Below are the contribution rates in effect for 2019 for the Defined Benefit and Defined Contribution plans that PERA administers. Retirement plan contribution rates are subject to change by the Minnesota Legislature.
General Plan (Coordinated Fund)
Police and Fire
Effective Jan. 1, 2019, the contribution rates for the Police & Fire Plan will increase to amounts listed below. The increase is part of the legislation passed during the 2018 session with Employee and employer rates will increase by 1.0 percent and 1.5 percent respectively, phased in over a two-year period. Employee and employer rates will increase by 0.5 percent and .75 percent respectively as part of the phased increase from 2018 legislation with paid dates in 2019 regardless of the period wages were earned.
Effective Jan. 1, 2020, the contribution rates for the Police & Fire Plan will increase. Employee and employer rates will increase by 0.5 percent and .75 percent respectively as part of the phased increase from 2018 legislation.
Defined Contribution Plan
|Elected officials and Physicians||5%||5%|
|Volunteer or on-call firefighters||7.5% or more – made either solely from compensation paid to the covered firefighter
or through a combination of member and employer contributions.
|Ambulance Service Personnel||Contribution rates are set by the employer.|
Historical contribution rates of the Defined Benefit Plans.