Employers' Pensions and Benefits Administration Manual (EPBAM)
   

 

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Police and Firemen's Retirement System (PFRS)
Employer Annual Pension Contribution Rates
(Rounded)



Based on 2nd Quarter Report of Following Years
Payment Due Date
Contribution Rates
Full Rate
Without Reduction

1992

4/01/95

9.87%

N/A

1993

4/01/96

12.99%

N/A

1994

4/01/97

15.89%

N/A

1995

4/01/98

14.69%

N/A

1996

4/01/99

15.73%

N/A

1997

4/01/00

14.97%

N/A

1997

4/01/00

12.36%

N/A

1998

4/01/01

12.36%

N/A

1998

4/01/01

4.14%

N/A

1999

4/01/02

0.00%

N/A
2000 4/01/03 0.00% N/A
2001 4/01/04 2.53% 12.63%
2002 4/01/05 (1) 5.93% 14.84%
2003 4/01/06 (1) 11.08% 18.47%
2004 4/01/07 (1) 16.97% 21.22%
2005 4/01/08 (1) 24.73% N/A
2006 4/01/09 (2) 13.19% 25.39%
2007 4/01/10 25.88% 25.88%
2008 4/01/11 29.36% 29.36%
2009 4/01/12 (3) 31.66% 31.66%
2010 4/01/12 (3) 24.06% 24.06%
2011 4/01/13 (4) 25.14% 25.14%
2012 4/01/14 (5) 23.25% 23.25%
2013 4/01/15 24.32% 24.32%

(1) CHAPTER 108, P.L. 2003 ALLOWS FOR A PHASE-IN BASIS WITH 20% OF THE ACTUARIALLY CALCULATED AMOUNT FOR 2004. THIS APPROACH WILL CONTINUE WITH 40% DUE IN 2005, 60% DUE IN 2006, 80% DUE IN 2007, UNTIL 100% OF THE ACTUARIAL AMOUNT IS DUE IN 2008.

(2) CHAPTER 19, P.L. 2009 ALLOWS FOR A DEFERRAL OF 50% ON NORMAL CONTRIBUTIONS AND ACCRUED LIABILITY. NON CONTRIBUTORY INSURANCE IS NOT SUBJECT TO THE DEFERRAL. THE DEFERRAL AMOUNT WILL BE AMORTIZED FOR 15 YEARS FOR PAYMENTS BEGINNING 2012.

(3) DUE TO A CHANGE BETWEEN VALUATION YEAR AND CONTRIBUTION YEAR FROM THREE YEARS TO TWO YEARS, THE 2012 CONTRIBUTION RATE IS NOW BASED ON 2010 INSTEAD OF 2009. CHAPTER 78, P.L. 2011 SUSPENDED COST-OF-LIVING ADJUSTMENTS (COLA) FOR ALL CURRENT AND FUTURE RETIREES.

(4) RATE CHART CHANGED DUE TO REVISED ECONOMIC ASSUMPTIONS. 8.25% to 7.95%

(5) RATE BASED ON REVISIONS TO THE 7/1/12 ACTUARIAL REPORT REFLECTED IN THE 7/1/13 REPORT.

 

 

 

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Last Updated: November 13, 2014