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KYRetirement Systems

Employer Contribution Rates

KRS 16.645, 61.565 and 78.545 require the Board of Trustees of Kentucky Retirement Systems to determine the employer contribution rates based on an actuarial valuation. The most recent actuarial valuation was performed June 30, 2005, and the following employer rates effective July 1, 2006, have been recommended and adopted as a result of the actuarial valuation and actions of the 2006 Regular Session of the General Assembly:


Contribution Rates for Fiscal Year 2006-2007
Kentucky Employees Retirement System nonhazardous employees: 7.75%1
Kentucky Employees Retirement System hazardous employees 22.00%1
County Employees Retirement System nonhazardous employees 13.19%1
County Employees Retirement System hazardous employees 28.21%1
State Police Retirement System 25.50%1

 

1House Bill 380 passed during the 2006 Regular Session of the General Assembly reduced the employer contribution rate from the amount recommended by the Board and its' consulting actuary. The actuarially recommended rates effective July 1, 2006 were 17.13% for KERS non-hazardous employers, 23.32% for KERS hazardous employers, and 42.30% for SPRS employers.