Pension contribution rate for FY 2007

After the longest Pension Board meeting in recent history, the Pension Board adopted the actuary's recommended contribution rate of 2.05% for employees and 2.75% for the City.

This will take affect the first pay period for FY 2007 which begins on October 1, 2006.

Pat,
Thank you posting the pension contribution for the actives. I am in the DROP but I know the actives will appreciate the good news. Thank you and the trustees for the work you all do to keep our pension plan strong.

Pat
Thanks for always taking the time to answer my questions in a fair, objective unbiased manner.

What percentage are we paying right now?

Currently we pay 1.17% and the City matches at 134% of what we pay.

We pay 1.18% now.