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PERS 2 Rate Change on July 25 Paychecks

July 25, 2017

Benefits Update – The State of Washington Department of Retirement Systems (DRS) announced new contribution rates effective July 1, 2017 for PERS Plan 2 members. The new rates were approved by the Pension Funding Council and enacted by the Legislature during the 2017 session.

The new employee contribution rate for PERS 2 members will increase from 6.12% to 7.38% of gross eligible wages on July 1. This change will appear on the July 25 paycheck. Retirement plan contributions are tax-deferred.

The UW’s employer contribution to your plan will increase from 11.18% to 12.70% of gross eligible wages effective July 1.

Information on current and past contribution rates are posted at the DRS website here.

For questions about rate changes, please contact DRS directly by email to recep@drs.wa.gov or phone 1-800-547-6657.

If you have any questions or concerns, please send an email to ischelp@uw.edu with subject line “PERS 2 Rate Change Inquiry.” Include the details of your particular question or concern in the body of your email. Providing the specifics will assist us in the prompt routing and resolution of your concern.

If you have any questions or concerns, please contact the ISC.