As of July 1, 2021, the total contribution rate of the ASRS Retirement Pension & Health Insurance Benefit for both the employer and the employee has increased slightly from 12.04% to12.22% for fiscal year 2022. Likewise, the Long Term Disability Income Plan has increased very slightly from .18% to .19% for both the employer and the employee for fiscal year 2022. This brings the combined total contribution rates to 12.41% for fiscal year 2022.
Contribution rates are actuarially determined and adjusted annually to ensure the plan remains fiscally sound and able to meet current and future obligations. For more information, please read the full article in this ASRS publication, or visit ASRS's website.