Retirement Mid-Year Important Updates

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Teachers Retirement System- Contribution Rates

In its annual meeting held May 13, 2020, the Teachers Retirement System Board of Trustees adopted the following employee and employer contribution rates for FY2022.

 FISCAL YEAR 2022 TRS Contribution Rates – Effective July 1, 2021

  • Employer Contribution Rate 19.81%
  • Employee Contribution Rate 6.00%

 

The Optional Retirement Plan (ORP) – Contribution Rates

ORP operates on a calendar year cycle (January 1 – December 31). The 2020 ORP contribution Rates will remain unchanged at 9.24% Employer Contribution and 6.00% Employee Contribution.