Section 11.17 - Employer ContributionsThe State Employees' Retirement System shall contribute an amount equal to 5% of the regular pay as defined in M.G.L. c. 32 of a participating Optional Retirement Program employee, as follows:
(1) Up to 1% of the employer contribution shall go to an Optional Retirement Program Life and Disability Account.(2) The balance of the employer contribution shall be transferred to an Optional Retirement Program Provider Account:(a) A monthly fee amount established by the Council to be approved by the Comptroller shall be transferred to the Optional Retirement Program Administrative Account to pay for the direct costs to administer the Program and the costs to establish the Program.(b) The balance of the employer contribution shall be transferred to the Optional Retirement Program employee contract(s) or custodial account(s) in direct proportion to each employee's regular compensation.