LOC News
PERS Rates to Increase
Average net rates for Public Employee Retirement System (PERS) employers are projected to increase by 4.08% in July of 2025 due to increased payroll and lower than expected fund earnings.
Payroll costs have increased by 20% system wide since the 2023 rate setting cycle, which in turn drives pension costs. Additionally, investment returns only gained 4.3% cumulatively over the last two years, well below the anticipated 14.3%.
No employer pays the average contribution rates and individual employer costs vary widely depending on the employer’s experience. The latest PERS Board packet may be found here with the full actuarial report beginning on page 86.
Contact: Scott Winkels, Lobbyist, swinkels@orcities.org
Last Updated 8/1/24