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November 16, 2012 / jimnv

PERS Wants More

Nevada PERS is increasing its contribution rates for each state employee by one percent effective July 1, 2013. The rate increase is to make sure the system is actuarially sound and to assure the Legislature next year that the system is addressing the unfunded liability. To see their document, click here.

The new rate for each employee will be 13.25 percent. NOTE: A person in Social Security only contributes half of this amount.

Employer Pay Contribution Plan

Regular Members Police/Fire Members
Existing Statutory Rate 23.75% 39.75%
2012 Actuarial Rate 25.72% 40.54%
Difference 1.97% 0.79%
Rate Effective 7/1/2013 25.75%* 40.50%*
*Statutory rate changes and is rounded to the nearest one-quarter of 1% as difference between actuarial rate and
statutory rate is greater than .5%.

Employee/Employer Contribution Plan – Matching Rates

Regular Members Police/Fire Members
Existing Statutory Rate 12.25% 20.25%
2012 Actuarial Rate 13.365% 20.77%
Difference 1.115% 0.52%
Rate Effective 7/1/2013 13.25%* 20.75%**

*Statutory matching rate for regular members changes and is rounded to 13.25% beginning July of 2013.
**Statutory matching rate for police/fire members changes and is rounded to

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One Comment

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  1. L. Cassidy / Nov 16 2012 2:07 pm

    Jim, we need you, a State of Nevada retiree, to testify before the Nevada Legislature on behalf of state retirees and current state employees. Your discerning intellect and clear voice is what Nevada legislators need to hear. Anyway, thank-you for all you do on our behalf!

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