Cap Employer Contribution Rates For PERA Public Employees' Retirement Association Employers

Each employer in the public employees' retirement association (PERA) contributes a percentage of its total employer payroll to PERA in the form of an employer contribution, an amortization equalization disbursement (AED), and a supplemental amortization equalization disbursement (SAED). A portion of the employer contribution goes to the health care trust fund and the remainder is deposited into the pension trust fund for each division of PERA to pay benefits. The AED and the SAED are to reduce PERA's unfunded liability and amortization period. The bill requires that for the calendar year beginning January 1, 2018, and for each calendar year thereafter, the total of the employer…