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What will the contribution rate be following the reclassification of DAGs to Safety retirement?

April 26, 2017contribution dags rate reclassification retirement safety

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What will the contribution rate be following the reclassification of DAGs to Safety retirement?

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Following the reclassification of DAGs to State Safety, the member contribution rate will be 6% of monthly compensation exceeding $317. Currently, the contribution rate as a State Miscellaneous member is 5% of monthly compensation exceeding $513. This increased contribution rate will apply to all members, including those who elect to remain under the Miscellanous formula.