Contribution rates for the Defined Benefit Plan for fiscal year 2014-15, which take effect July 1, 2014, will increase slightly from current rates. The contribution rates effective July 1, 2014 will be:
| FISCAL 2014-15 July 1, 2014 – June 30, 2015 | ||
Retirement Pension Benefit | Long Term | Total | |
Employee | 11.48% | 0.12% | 11.60% |
Employer | 11.48% | 0.12% | 11.60% |
The current rates are 11.30% for the Pension Plan and 0.24% for LTD, for a total current contribution rate of 11.54% for employees and employers. These rates will remain in effect through June 30, 2014.
The Alternate Contribution Rate, currently 9.2%, will increase to 9.57% beginning July 1, 2014.
Was this page helpful?:
