Starting July 1, 2024 the PERSI contribution rates for all classes will change. Contribution rate changes are effective July 1, 2024 and apply to employee earnings on or after July 1.
If the PERSI beginning cycle date is on or after July 1st, then the rate change should be applied.
You will update your PERSI benefit codes (employer contributions) and your PERSI deduction codes (employee contributions). The new contribution rates are listed below with step-by-step instructions for updating your benefit codes and your deduction codes.
New PERSI Contribution Rates
General Member
- Employer: 11.96%
- Employee: 7.18%
School Employee Member
- Employer: 13.48%
- Employee: 8.08%
Update Benefit Codes
- In Payroll, select Other Functions then Benefit Codes
- Select the Benefit Code in the left column then press Edit
- Enter the new employer rate in the % Benefits Rate field
- Press the Save button to save the new rate
- Repeat this process for the remaining PERSI benefit codes
Update Deduction Codes
- In Payroll, select Other Functions then Deduction Codes
- Select the Deduction Code in the left column then press Edit
- Enter the new employee rate in the % Deductions Rate field
- Press the Save button to save the new rate
- Repeat this process for the remaining PERSI deduction codes