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PERS briefs committee on retirement plans and upcoming health‑plan re‑bid; DC plan enrollment grows to ~2,600
Summary
PERS reported that the new 2025 defined‑contribution tier has grown to about 2,600 participants and $36 million in assets as of Sept. 30, 2025; the agency will re‑bid its health plan contract for the 2027–29 biennium.
The Public Employees Retirement System (PERS) briefed the Employee Benefits Program Committee on Oct. 7 about multiple statutory and administrative changes enacted in recent legislative sessions and about PERS’s companion group health insurance contracting plans.
Executive Director Rebecca Fricke said PERS administers multiple retirement plans for roughly 61,000 members and paid about $239 million to in‑state retirees in calendar year 2024. PERS implemented a new 2025 defined‑contribution (DC) tier enacted by House Bill 1040 that allows a mandatory lower baseline contribution but permits employees to elect up to an additional 3% in salary deferral; employers must match elected amounts. The election is irrevocable and must be made within a short statutory…
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