Employer Rate Relief Programs
The 2018 Legislature passed Senate Bill 1566
, which was the result of the Governor’s UAL Task Force. The bill provides incentives for employers to make unfunded actuarial liability (UAL) lump-sum payments to PERS to reduce their contribution rates in the future, and also establishes a pooled side account for public school districts.
SB 1566 includes four UAL-reduction programs. Details on each are included on the following webpage. The page will be regularly updated as new information is available. Sign up for GovDelivery emails on this topic to receive additional information in the future.
Employers may also want to use PERS' Employer Rate Projection Tool to determine the potential impact of establishing a new side account. The tool allows employers to estimate their own potential employer contribution rates and amounts for planning purposes over the next several biennia.