Laserfiche WebLink
0 <br />State Actions Needed <br />• Eliminate the availability of Employer -Paid Member Contribution (EPMC) <br />• Require employees to pay full share of employee contributions <br />o 7% - 8% for Miscellaneous <br />8% - 9% for Safety <br />• Remove Caps on the percentage employees can pay for total cost of PERS <br />programs <br />• Give agencies the ability to negotiate the option of EXTENDING retirement <br />ages for Miscellaneous employees up to Social Security retirement age. <br />• Minimum retirement age for Miscellaneous employees = 60 yrs. <br />• Minimum retirement age for Safety employees = 55 yrs. <br />■ Allow PERS to provide option of HYBRID plans <br />Defined Benefit Plan with cap of 70% of employees three -year avg. pay <br />Supplemented with risk - managed DEFINED CONTRIBUTION plan <br />23 <br />