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LGERS Employer Contribution Rates to Change for 2019-2020

At its meeting on January 31, 2019, the Board of Trustees amended its policy for employer contribution rates to LGERS. Effective July 1, 2019, the “base" employer contribution rate will change:

•Law enforcement officers (LEOs) rate will increase from 8.50 to 9.70 percent of reported compensation.

•Rate for all other employees will increase from 7.75 to 8.95 percent of reported compensation.

Additional rates, such as rates associated with death benefits or past service liabilities, will be added to the base rate to determine the actual contribution percentage for each employer. As in past years, each employer's total contribution rate for the upcoming fiscal year will be calculated by the Retirement Systems Division and communicated in a letter before the end of April 2019.

 

View the full details here .