Contribution Rate Increases for Correctional Plan
As part of the legislation passed during the 2024 session,
Employer contributions for the Correctional Plan will increase 1.5%, from 8.75% to 10.25%
Employee contributions for the Correctional Plan will increase by 1%, from 5.83% to 6.83%
It is important to update your payroll…
Attention Correctional Members: Important Plan Updates
Multiplier and Contribution Rate Increase
The Correctional plan multiplier increases from 1.9% to 2.2% for any service credit earned July 1, 2025 or later. The multiplier for service earned prior to July 1, 2025 remains at 1.9%.
Contribution rates will also increase starting July 1, 2025:
Members…
Attention Police & Fire Members: Actuarial Factor Changes Effective July 1, 2025
Actuarial factors will be updated for benefits effective July 1, 2025 or later in the Police & Fire Plan. These factors are used when a member designates a survivor option for a monthly benefit or purchases military service credit earned prior to public employment.
Factors are subject to…