Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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Employees hired after September 4, 2012 who elected the DC plan will have new contribution and employer match amounts mandated by PA 92. The first change is the mandatory 4% employer contribution, which goes into effect for records with a begin date on or after October 1, 2017.
For any record begin date before February 1, 2018, the current employer match is 50% of the first 6% of the employee’s retirement savings contribution remains in place.
The change to the employer match takes effect for records with a begin date on or after February 1, 2018. The employer match will be 100% of the first 3% of the employee’s retirement savings.
Created 8/7/2017