Town to absorb retirement system contribution increase for public employees
August 9, 2018
Monday voted to absorb a retirement system contribution rate increase for public employees.
Contributions will increase of increments of .5 percent over the next four years, leading to a total increase of 2 percent, Pine Bluffs Treasurer Kim Patterson said during Monday’s town council meeting.
The increases will not directly impact public employees as the town will absorb the rate hike. This year’s increase, effective Sept. 1, will cost the town $2,300.
In future years, town officials will absorb the costs in their annual budgets passed each summer.
The higher contributions are the...