6
State Retirement System
By JE R R Y SA Y LO R
longer than men. Since at comparable
ages women receive the same over-all
retirement income as do men, a sub
stantially larger fund is required to
produce the same amount of pension.
Age at the time of entrance into the
system, means the age of the individual
at the nearest birthday. From the rate
table shown below each employee may
determine what his own individual con
tribution rate is to be.
A fter a year spent in preparation,
the Public Employees Retirement Sys
tem is now in active operation.
Employee and employer contributions
to the retirement fund are being made
on salaries and wages earned after July
1, 1946. School clerks, state department
heads and administrative officers of all
participating sub-divisions have been
furnished forms and supplies together
with instructions for making proper
remittances to the Retirement Board.
More than 2 0 ,0 0 0 individual personnel
records have been processed, contribu
tion rates established and individual
employee numbers assigned.
In addition to all state employees and
all public school employees, the em
ployees of 65 political sub-divisions are
now included in the system. Nineteen
counties and 36 cities are participating
in the system, plus eight miscellaneous
groups such as port districts, irrigation
districts, and P.U.D. districts. The re
tirement plan has received almost uni
versal approval of employees affected
by the act.
Employees are mainly interested in
two questions: "H ow much am I re
quired to contribute to the fund?” and
"W hat will be my approximate retire
ment income?”
The first question is easily answered
since the employee contribution rates
are based on age, sex and occupation.
Police officers and firemen contribute
at a different rate than all other types
of employees who are classified as ordin
ary or miscellaneous personnel. This
is because they retire five years sooner
than do ordinary employees, and an
adequate fun d to provide fo r their re
tirement income must be created in a
five-year shorter period.
Contribution rates for female em
ployees is higher than for male em
ployees because women normally live
Retirement Percentages
Contribution rates of employees ex-
pressed as percentage of wages or salary
earned:
A ge
N e a re st
B irth d a y
M ise. Em ployees
M en
18............... .....3.71%
19............... .... 3.81
20............... .....3.91
21............... .....4.02
22............... .....4.14
23............... .....4.26
24. .................4.39
25............... .... 4.53
26............... .... 4.68
27............... .... 4.84
28............... .....5.01
29............... .....5.19
30............... .....5.39 ,
31............... .....5.60'’ '
32............... .... 5.82,'
33............... .... 6.06
34............... .... 6.32
35............... .....6.60
36............... .... 6.68
37.....................6.76
38............... .....6.84
39....... ....... .... 6.92
40............... .... 7.00
41............... __ 7.08
42.....................7.17
43............... .....7.25
44.....................7.34
45.....................7.43
46.....................7.51
47.....................7.60
48.............. ......7.69
49.............. ..... 7.78
50.............. ......7.87
51.
...... ..... 7.97
52
8.06
53.............. ..... 8.16
54.............. ..... 8.25
55.............. ......8.34
56.............. ..... 8.44
57.............. ..... 8.54
58............ ..... 8.64
59.............. ..... 8.74
60.............. ..... 8.84
61.............. ..... 8.94
62.............. ..... 9.04
6 3 . . . . . . . . ..... 9.14
64............. ..... 9.24
W om en
P o lice
and
Firem en,
4.06%...... ..........5.38%
4.18....................5.53
4.30....................5.69
4.43.......... ..........5.86
4.57....................6.04
4.72....................6.23
4.88....................6.43
5.05.......... ..........6.64
5.24......... _____6.86
5.44......... ..........7.09
5.65......... ..........7.34
5.87......... .......... 7.62
6.10.......... .....7.93
6.34....................8.27
6.60......... ..........8.63
6.88......... .......... 9.01
•7.18......... .......... 9.41
7.50......... ...........9.83
7.60......... _____ 9.91
7.70.................... 9.98
7.79......... .........10.05
7.89......... ........ 10.13
7.98......... ____ 10.20
8.08......... ____ 10.27
8.18......... ........ 10.35
8.28....'...... ........ 10.44
8.38......... .........10.53
8.48____ _____ 10.63
8.58......... ........ 10.72
8.69......... .........10.82
8.79.________ 10.93
8.90____ ____ 11.04
9.00......... ........ 11.16
9.10____ .........11.29
11.42
9.21.........
9.32..................11.55
9.43....... .........11.69
9.54..................11.82
9.65..................11.96
9.76........ .........12.09
9.87..................12.23
9.98......... .........12.36
10.09
10.21
10.32
10.44
10.56