Retirement Plan Contribution Rates

Both the City and employees make contributions to the City’s retirement plans. Contribution rates are the percentage of salary that each employee and the City pays. A number of factors are considered by the plans’ actuaries when determining contribution rates. For example, assumptions of mortality rates, salary increases/decreases, demographic changes, and investment gains/losses.

In March 2010, both retirement boards approved new retirement contribution rates. In both cases, the effect of changed assumptions was the most significant factor in raising contribution rates. The effect of investment loss was a much smaller factor leading to the increased contribution rates.

Fiscal Year 2022-2023

Federated

San Jose Office of Retirement Services Contribution Rate Correspondence

Police & Fire

San Jose Office of Retirement Services Contribution Rate Correspondence

Fiscal Year 2021-2022

Federated

San Jose Office of Retirement Services Contribution Rate Correspondence

Police & Fire

San Jose Office of Retirement Services Contribution Rate Correspondence

Fiscal Year 2019/2020 & 2018/2019 Rates

Federated

Fire

Police

Fiscal Year 2017/2018 Rates *

* Please note that the 2017/2018 contribution rates do not include any retiree healthcare changes that may result from Measure F or the Alternative Pension Reform Framework Agreement.