Participation: Contribution Rates & Vesting
Employee and employer contribution rates are established by Minnesota law. Contributions are a percentage of payroll.
|Employee Contribution||5.75% starting 7/1/2018 |
6.00% starting 7/1/2019
|Employer Contribution||5.875% starting 7/1/2018 |
6.250% starting 7/1/2019
Eligibility to collect a monthly retirement benefit is based on years of service. This is known as "vesting."