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Announcements

 

PENSION CONTRIBUTION RATES MAY INCREASE STARTING IN 2018  

Contribution rates for the Tacoma Employees' Retirement System (TERS) may increase beginning in February 2018. The proposal was recommended by the Retirement Board and approved by Joint Labor, but still requires approval by the City Council. If approved, employee contributions would increase to 9.66% (from the current 9.20%) and employer contributions would increase to 11.34% (from the current 10.80%) beginning the first pay period in February, 2018.

Retirement Director Tim Allen stated, "Although our retirement plan is in better shape than many other public pension plans, the results of our most recent actuarial Annual Valuation led the board to recommend a 1% contribution rate increase based on our Funding & Benefits Policy."

Additionally, certain actuarial table have been updated, which will impact the cost of purchasing additional service credit as well as the initial pension amounts for some retirement options. Most changes will be incorporated in 2018, while some will begin in 2020.

 

OPEN ENROLLMENT FOR MEDICAL AND DENTAL COVERAGE for 2018

Currently enrolled TERS Retirees and family with current City of Tacoma Retiree coverage and their eligible dependents are eligible for the medical and dental plans offered by the City of Tacoma.

 

The Open Enrollment period is October 30 - November 13, 2017. All changes with be effective on January 1, 2018.

 

You are only eligible to make changes to your medical and dental coverage if you are currently enrolled.

 

Please see the 2018 Open Enrollment Benefits Newsletter for Medical and Dental and the 2018 Healthcare Benefits At-A-Glance for more detailed information.