How much do members contribute to SWRS?
The amount you contribute to SWRS each year is set by statute, and determined by your date of membership in SWRS not necessarily when you started working. The following will outline the contribution rates based on the current statute:
Date of Entry into SWRS | Deduction Percentage |
Before January 1, 1975 | 5% |
January 1, 1975 – December 31, 1983 | 7% |
January 1, 1979 – December 31, 1978 | 7%+2% |
January 1, 1984 – June 30, 1996 | 8%+2%* |
After June 30, 1996 | 9%+2%* |
TARP members | 11% |
*2% of salary in excess of $30,000. This 2% is in addition to the seven, eight or nine percent that is already being deducted from total regular compensation.