PA PSERS New Defined Benefit Member Rates of Shared Risk Membership classes Beginning July 1, 2021

What needs to be setup to accommodate the change to employee's deduction reporting to PSERS?

• Payroll
• Pennsylvania
• PA PSERS Retirement

Reporting agency notification

Update the employee deduction % on the deduction master to the new rate based on the increase.

New Defined Benefit Member Rates for Shared Risk Member Classes

Act 120 of 2010 and Act 5 of 2017 created a risk-sharing program for all members who first enrolled in PSERS after June 30, 2011 (Class T-E, Class T-F, Class T-G, and Class T-H members).  Generate a Total Service Credit report on the PSERS portal to determine if there are employees in these classes prior to 6/30/2011