Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
PERS warns many employer side accounts will expire in 2027, schools likely to see biggest rate changes
Summary
PERS actuaries said more than half of about 350 employer side accounts will expire in the next few years, with 181 expiring around 2027; school districts comprise a large share of the high‑impact expirations and employers must notify PERS by May 2027 to reestablish offsets under a proposed process.
PERS actuaries told the General Government Subcommittee on April 22 that a large number of employer side accounts — prepaid arrangements that offset contribution rates — will expire in 2027 and that school districts and community colleges account for much of the exposure.
"Out of about 350 total side accounts, more than half, 181, are expiring in the next couple of years," Jake Winship, actuarial manager at PERS, said. Winship explained that side accounts are an irrevocable part of the PERS trust whose benefit accrues exclusively to the employer that makes the deposit; they are typically amortized over a 20‑year period and treated as offsets to employer contribution rates.
Winship said employers…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
