Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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The pension contributions for the normal cost of Pension Plus 2 will be divided 50/50 between the employer and employee. (The normal cost represents the cost of pensions for active employees earning another year of service credit in the retirement system.) If any future liability emerges on this plan, contributions to cover that cost will be shared 50/50 by members and employers as well. This means that member contribution rates could rise in the future to help cover costs.
Created 8/7/2017