As a result of the pension reform legislation passed by the 2011 Maryland General Assembly and signed by the Governor this spring, the following changes will take place effective with the July 20, 2011 paycheck:
? Member contributions for all current members of the Employees? Alternate Contributory Pension System will increase from 5% to 7% of pay.
? Member contributions for all current members of the Law Enforcement Officers Pension System (LEOPS) will increase from 4% to 6% of pay.
Member contributions for current members of the Teachers? Alternate Contributory Pension System will increase from 5% to 7% of pay beginning with the August 31, 2011 paycheck.
Also, 2011 Pension Reform did not affect members of either the Teachers? Retirement System (TRS) or Employees? Retirement System (ERS).
More details concerning 2011 Pension Reform can be found in the spring 2011 issue of the State Retirement Agency?s Mentor newsletter accessible at {http://www.sra.state.md.us/Participants/Members/Downloads/Newsletter/Mentor-2011-Spring.pdf}.
Questions should be directed to Dave Curtis at x-46018 or {dcurtis@towson.edu} or Gail Price at x-46017 or {gprice@towson.edu}.
