Continuing with a strategy to gradually adjust to the necessary contribution rates for three pension plans, in February 2014 lawmakers approved rate increases in three pension plans – the Public Employee; Game Warden Highway Patrol and DCI; and Paid Fire B pension plans. The first of the increases took effect on July 1, 2014, and adjustments in contribution rate structures will continue in some plans through July 1, 2017.
Public Employee Pension Plan
The total contribution rate for the Public Employee Pension Plan is 16.62%. Of that total, the Employer Contribution is 8.37% and the Employee Contribution is 8.25%.
As of July 1, 2017, State agencies will be paying 5.57% toward the employee contribution, leaving 2.68% to be paid out-of-pocket by state employees. Some non-state agencies follow suit with the state agency "pick-up" of the employee contribution rate, and some do not. Employees of non-state agencies should contact their employer for specifics regarding their out-of-pocket contribution rate.
Warden, Patrol and DCI Pension Plan
The total contribution rate for the Game Warden, Patrol, and DCI Pension Plan is 29.44%. Of that total, the Employer Contribution is 14.88% and the Employee Contribution is 14.56%. Employers in this plan may "pick-up" a portion of the employees contribution. As of July 1, 2017, employees are required to pay a minimum of 2.64% out of pocket.
W.S. 9-3-604(c)(ii) specifies the minimum amount employees pay out-of-pocket. Statute does not specify the amount of the employer pick-up of employee contributions. Rather, each employer makes their own arrangements for the amount of the employer pays of employee contributions. These three employers need to inform the State Auditor’s Office of the amount of the employer pick-up of the employee contribution.