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PERS representative: school-plan funded at 102.1%; employee rate set at 7.25% and employers must update July payroll reports
Summary
PERS told employers the latest actuarial valuation shows the school plan is 102.1% funded, setting employee contributions at 7.25% and employer contributions at 7.3225%; payroll reports covering July 1–30, 2026 must reflect the new employee rate or they will be rejected.
A PERS representative said the most recent actuarial valuation found the school plan funded at 102.1%, which sets the employee contribution rate at 7.25% and the employer rate at 7.3225% going forward.
"The school plan is funded at 102.1% putting employee contribution rates at 7.25% and employer contribution rates at 7.3225%," the PERS representative said, noting that these changes do not apply to the OSERS plan.
The presenter warned employers about a reporting requirement tied to payroll periods: when uploading a PERS monthly wage and contribution report for the payroll period that starts 7/1/26 and ends 7/30/26, the report must reflect the 7.25% employee contribution rate or the report will error out and not be accepted. The presenter urged payroll staff to update systems to avoid rejected reports.
The webinar presenter also noted that some PERS guidance documents and handbooks will be edited to incorporate LB 824 and other legislative changes, and that PERS will distribute materials and FAQs to attendees by email.
