ERSRI’s retirement benefits are funded through contributions paid by participating active employers, members, and earnings from ERSRI’s investments. Employer contribution requirements are determined by periodic actuarial valuations under state law, conducted by actuaries. The Board of Retirement reviews and sets contribution rate increases or decreases on the basis of these studies each fiscal year.
Contributions and data must be sent to ERSRI within three business days of the date they are withheld from the employee’s compensation (i.e. the pay date). For example, if a payroll period ends on 1/01/2022 and is paid on 1/07/2022, contributions and data are due by 1/12/2022.
Click on the applicable link below to view current and past contribution rates for both Employers and Members.