Pension and Benefit Info for the Start of the 2015-16 School Year
Year four of the seven year phase in of the pension contribution – from 6/5% to 7.5% began on July 1st. The TPAF contribution rate is now 7.06% (up from 6.92%). Each July 1st the rate will increase .14% until it reaches 7.5% as of July 1, 2018.
The Health benefits contributions under Chapter 78 sunset as of 6/28/15. What that means is – if you have completed the four years of increased health benefit contributions (the last year must be for at least one full year) then you can begin negotiating from that point. The minimum contribution reverts back to 1.5% of salary. Contact us to help you better understand how you will move forward in your negotiations of health benefit contributions.
Effective January 2016 – those in the State Education Health benefits Plan (SEHBP) will see increases in your premiums as follows:
Medical Plan Only Plan Type Medical and Rx Plan
4.8% Single 5.2%
4.8% Employee/Spouse 5.2%
9.0% Family 9.3%
11.3% Employee/Child 11.7%
The full rate renewal report that includes the actual premiums can be found at the links below:
- School Employees’ Health Benefits Program – Plan Year 2016 Rate Renewal Recommendation Report
- State Health Benefits Program – Dental Plans – Plan Year 2016 Rate Renewal Recommendation Report