This isn't new news, but we can confirm that the state employee pension fund did hit its target of a 6.9% return rate for calendar year 2023. As such, the 2% surcharge that went into place on July 1, 2023 will cease on July 1, 2024. This means that all Tier 4 employees will not have the 2% pension surcharge deducted from their paychecks starting July 1, 2024.
The next evaluation period for the pension return rate will be at the end of calendar year 2024.
A&R is still conducting discussions related to a General Wage Increase for July 1 as well, we will keep you posted as this process moves along. If you want to have a say/vote in the July GWI for A&R, you must be signed up as an A&R member...if you are a fairly new hire into state service and haven't signed up with A&R, the process is simple, just follow this link