This PML is superseded by the HR Manual and is no longer active.
PML Number
2015-017
Title
CalPERS Second Tier Member Retirement Contribution Increase effective July 1, 2015
Date Issued
June 11, 2015
Owner
Benefits Division
Contact
Desi Rodrigues
Retirement Program Manager
(916) 324-9400
desi.rodrigues@calhr.ca.gov
Signed By
Belinda Collins, Acting Chief
Content
The state employee retirement contribution rate will increase for certain state employees specified under CalPERS law, Government Code section 20683.2.  The contribution rate for state miscellaneous and industrial members that have elected the Second Tier plan will increase by .75 percent.
Effectively July 1, 2015, state miscellaneous and industrial Second Tier members will see an increase in their member retirement contribution from 3.00 percent to 3.75 percent.  CalPERS actuarial staff reported the member contribution increase to the CalPERS Board in April 2015.
The State Controller’s Office will implement the retirement contribution change for all state employees subject to the Second Tier plan.  Department must notify employees of the retirement contribution increase that will be reflected in the employee’s pay warrants.
If you have questions related to this PML, please contact Desi Rodrigues.