No Legislation to Increase Employer Contributions

    The State Administration and Veterans’ Affairs Committee had recommended that the employer contribution to both the Teachers Retirement System and the Public Employees Retirement System be increased.

    These recommendations were not included in the legislation (HB1) that provided the infusion of general fund dollars into those systems. As has been reported, TRS received an infusion of $100 million and PERS $25 million.

    The committee had recommended increases of 1.15 percent in July of 2006, another 1.15 percent in July of 2007 and a final 1.15 percent in July, 2009 for TRS. The recommendation for PERS had been an increase of .82 percent in July of 2006 and an increase of .82 percent in July 2007.

    Dave Senn, administrator of TRS, said there is about $560 million in TRS covered payroll each year. He also said about 75 percent of that amount is from local taxes. Roughly half of the PERS payroll is local (cities, counties, special districts, etc.).

    It is not expected that these exact same figures will be introduced into the next session. They may be a little less or a little more. It depends on earnings from investments.

| Home | Contact Info | Board of Directors | MPEA Staff | History | NOTICE |

Last Modified: Thursday June 07, 2007

Web Design By Sara Dobbins

To report any problems please

email sara@mympea.org