March 30, 2023

The California Public Employees Retirement System (CalPERS) announced that most California Public Employees’ Pension Reform Act (PEPRA) members working at public agencies will experience an increase in their contribution rate for their pensions, effective July 1, 2023. This stems from the change in the discount rate and actuarial assumptions in late 2021.  

Under PEPRA, public agency members hired on or after January 1, 2013, are subject to possible increases or decreases to their contribution rate based on the results of the annual actuarial valuations.

CalPERS will be hosting a webinar open to anyone, but geared toward public agency employers, who would want more information on why contributions are changing, who will be impacted, and how to navigate this change with employees. CalPERS anticipates that this webinar will help employers understand why PEPRA member rates are increasing, learn who is affected, and identify where to find resources that can support employees who are impacted.

Webinar details:

• Registration: Enroll into the Changes to Your PEPRA Employees’ Contribution Rate Webinar
• When: Wednesday, April 12, 2023
• Time: 10:00 a.m. to 11:00 a.m.