Miami University

OPERS contributions to increase for 2006

Non-teaching staff will see increases in their Ohio Public Employees Retirement System contributions in January. The OPERS retirement board has certified employee and employer contribution rates for all local division employers for the Jan. 1-Dec. 31, 2006, calendar year.

It is the first rate increase in almost 30 years, according to OPERS, and it will phase in over three years for employee and employer contributions. Currently, most employees pay 8.5% and Miami pays 13.31% into OPERS. The upcoming changes phase in as follows:

Year Employee % Employer %
2005 8.5% 13.31%
2006 9.0% 13.54%
2007 9.5% 13.77%
2008 10.0% 14.00%
For law enforcement employees, the increases are as follows:
Year Employee % Employer %
2005 10.1% 16.70%
2006 10.1% 16.93%
2007 10.1% 17.17%
2008 10.1% 17.40%
The OPERS contribution increases also apply to those in the Alternative Retirement Plan (ARP).

OPERS has instituted the increases in a plan to strengthen the solvency of OPERS' health care fund that provides health care benefits for retirees.

Date Published: 11/17/2005
Volume: 25   Number: 16