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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, 2006, and the following employer rates effective July 1, 2007, 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 2007-2008
Kentucky Employees Retirement System Nonhazardous employees:  8.50%*
Kentucky Employees Retirement System Hazardous employees 24.25%*
County Employees Retirement System Nonhazardous employees 16.17%  
County Employees Retirement System Hazardous employees 33.87%  
State Police Retirement System 28.00%*

 

Employer contribution rates for the Kentucky Employees Retirement System and the State Police Retirement System are subject to budget approval by the General Assembly. Employer contribution rates for all systems may also be amended if legislation affecting the rates is implemented in upcoming sessions of the General Assembly.


*In accordance with KRS 61.565, the rates listed below were recommended by the board's actuary:
KERS Nonhazardous – 48.37%;
KERS Hazardous – 47.11%
SPRS – 120.00%.

Please note however, the rates established in the 2006-2008 Executive Branch Budget enacted as HB 380 during the 2006 session of the Kentucky General Assembly will become the effective contribution rates on July 1, 2007.