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Contents
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The Retirement Systems Rates table is used in the retirement calculations of projected and current employer and employee contributions to retirement. Rates values may be viewed, reported, or exported to Microsoft Excel spreadsheets.
Retirement rates are usually changed in the summer or fall. Employee and employer rates apply to a full month. Once rates are set, they usually last for one year. The rates are used to determine the employee and employer contributions based upon when the employee earned the compensation.
This table is used only for plans 1 and 2 employee contributions; plan 3 employee rates should always be set to zero in this table. Plan 3 contributions are calculated based upon when the compensation was paid. Use the Retirement Defined Contribution table for plan 3 rates.
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Warning: WSIPC will maintain these tables, but 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