Each year, the actuarial firm hired by the State Retirement Board determines a percentage of payroll, or employer contribution rate, necessary to properly fund required benefits. A different employer contribution rate is determined for state employees, teachers, and each participating municipality (including police and fire plans). To learn about the current rates, follow the link below.
Under the Rhode Island Retirement Security Act of 2011 (RIRSA), most employers are also required to contribute to the Defined Contribution plan for their employees. Click here for employee and employer contribution rates for the Defined Contribution Plan.