The Utah State Retirement Board annually determines the contribution rate necessary for each system based on actuarial studies. Our office provides employers these finalized rates in the Employers section of our website.
After logging in, employers will be reminded annually to acknowledge the current rates. The employer’s web administrator is responsible for completing this task or assigning another employee to this role.
Most retirement systems have required contribution percentages, particularly in the system accounts, post-retired amortization categories, and required employer 401(k) payments. The Tier 2 Retirement System is a contributory retirement system and may have employee-paid rates, in addition to the other contribution types. These required amounts are pre-populated on the certification and may not be modified by employers. The certification must be reviewed and acknowledged by the administrator before the rates take effect on July 1 (or September 1 for school districts).