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Shortly after hire, employees in retirement plan 3 systems must make a selection of contribution rate. The Department of Retirement Systems sets the rates and rate plans. Use this table to find valid Defined Contribution Rate options for those employees participating in a plan 3 retirement system. Currently there are six plans, A &endash; F. Some rates are fixed in percentage, while others flex based upon the person’s age. WSIPC maintains the values in this table.
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Warning: Although WSIPC will maintain these tables, a district may grant security access for maintenance. Access should be limited to one or two users per district. Contact your data center before making ANY updates to the Retirement tables. Updating these tables could result in incorrect data being transmitted to DRS and incorrect calculations of deductions, benefits and the remittance to DRS. |
Page Updated 3/04