The State of Washington Department of Retirement Systems (DRS) announced new contribution rates effective September 1, 2018 for employees enrolled in a PERS Plan 2 retirement plan.
The new employee contribution rate for PERS 2 members will increase from 7.38% to 7.41% of gross eligible wages on September 1. Employees with PERS 2 will see this change on their September 25 paycheck. Retirement plan contributions are tax-deferred.
PERS 2 members will see the UW’s employer contribution to their plans increase from 12.70% to 12.83% of gross eligible wages effective September 1.
For more information on current and past contribution rates, please visit the DRS website: Contribution Rates – Member.
If you have questions about this rate change, you can contact the DRS directly either by email to email@example.com or phone 1-800-547-6657.