Iowa Administrative Code
Agency 495 - IOWA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Chapter 4 - EMPLOYERS
Rule 495-4.6 - Contribution rates
Current through Register Vol. 46, No. 19, March 20, 2024
The following contribution rate schedule, payable on the covered wage of the member, is determined by the position or classification and the occupation class code of the member.
(1) Contribution rates for regular class members.
Effective July 1, 2007 |
Effective July 1, 2008 |
Effective July 1, 2009 |
Effective July 1, 2010 |
Effective July 1, 2011 |
|
Combined rate |
9.95% |
10.45% |
10.95% |
11.45% |
13.45% |
Employer |
6.05% |
6.35% |
6.65% |
6.95% |
8.07% |
Employee |
3.90% |
4.10% |
4.30% |
4.50% |
5.38% |
Effective July 1, 2019 |
Effective July 1, 2020 |
Effective July 1, 2021 |
Effective July 1, 2022 |
Effective July 1, 2023 |
|
Combined rate |
15.73% |
15.73% |
15.73% |
15.73% |
15.73% |
Employer |
9.44% |
9.44% |
9.44% |
9.44% |
9.44% |
Employee |
6.29% |
6.29% |
6.29% |
6.29% |
6.29% |
(2) Contribution rates for sheriffs and deputy sheriffs are as follows.
Effective July 1, 2019 |
Effective July 1, 2020 |
Effective July 1, 2021 |
Effective July 1, 2022 |
Effective July 1, 2023 |
|
Combined rate |
19.02% |
18.52% |
18.02% |
17.52% |
17.02% |
Employer |
9.51% |
9.26% |
9.01% |
8.76% |
8.51% |
Employee |
9.51% |
9.26% |
9.01% |
8.76% |
8.51% |
(3) Contribution rates for protection occupations are as follows.
Effective July 1, 2019 |
Effective July 1, 2020 |
Effective July 1, 2021 |
Effective July 1, 2022 |
Effective July 1, 2023 |
|
Combined rate |
16.52% |
16.02% |
15.52% |
15.52% |
15.52% |
Employer |
9.91% |
9.61% |
9.31% |
9.31% |
9.31% |
Employee |
6.61% |
6.41% |
6.21% |
6.21% |
6.21% |
(4) Members employed in a "protection occupation" shall include:
Notwithstanding the foregoing, all airport firefighter service prior to July 1, 2004, shall be coded by IPERS as sheriff/deputy sheriff/airport firefighter service, and all airport firefighter service after June 30, 2004, shall be coded by IPERS as protection occupation service. This coding, however, shall not supersede provisions of this title that require members to make contributions at higher rates in order to receive certain benefits, such as in the hybrid formula pursuant to 495-12.4 (97B).
(5) Service reclassification.
(6) Effective July 1, 2006, in the determination of a sheriff's or deputy sheriff's eligibility for benefits and the amount of such benefits under Iowa Code section 97B.49C, all protection occupation service credits for that member shall count toward the total years of eligible service as a sheriff or deputy sheriff. However, this subrule shall not be construed to alter the statutory requirement that a sheriff or deputy sheriff must be employed as a sheriff or deputy sheriff at termination of covered employment in order to qualify for benefits under Iowa Code section 97B.49C.
(7) Pretax.