Increase in IPERS Contribution Rates Effective Immediately

Effective July 1, 2011, the IPERS contribution rates for employees and employers increased as mandated by state law. For employees, the contribution rate increases from 4.5% to 5.38%, and for employers, the benefit rate increases from 6.95% to 8.07%. These changes will be reflected starting with your July 15th paycheck. The rate change will increase employee contributions by $8.80 per pay period for each $1,000 of wages, and the employer’s contribution will increase by $11.20 per pay period for each $1,000 of wages.

All staff who are IPERS members should have received a communication from IPERS mailed to your homes about the changes to the IPERS program that were effective July 1, 2011, including the contribution rate increase. If you have any additional questions, contact Payroll Specialists Steve Jordan (ext. 14908) or Michelle Westcott (ext. 14422).