Section 388.1747 - Allocations to public school employees' retirement system; contribution rates(1) The allocation for 2024-2025 for the public school employees' retirement system pursuant to the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1301 to 38.1437, is made using the individual projected benefit entry age normal cost method of valuation and risk assumptions adopted by the public school employees retirement board and the department of technology, management, and budget.(2) The annual level percentage of payroll contribution rates for the 2024-2025 fiscal year, as determined by the retirement system, are estimated as follows: (a) For public school employees who first worked for a public school reporting unit before July 1, 2010 and who are enrolled in the health premium subsidy, the annual level percentage of payroll contribution rate is estimated at 41.94% with 31.36% paid directly by the employer.(b) For public school employees who first worked for a public school reporting unit on or after July 1, 2010 and who are enrolled in the health premium subsidy, the annual level percentage of payroll contribution rate is estimated at 38.10% with 27.52% paid directly by the employer.(c) For public school employees who first worked for a public school reporting unit on or after July 1, 2010 and who participate in the personal healthcare fund, the annual level percentage of payroll contribution rate is estimated at 36.85% with 26.27% paid directly by the employer.(d) For public school employees who first worked for a public school reporting unit on or after September 4, 2012, who elect defined contribution, and who participate in the personal healthcare fund, the annual level percentage of payroll contribution rate is estimated at 31.54% with 20.96% paid directly by the employer.(e) For public school employees who first worked for a public school reporting unit before July 1, 2010, who elect defined contribution, and who are enrolled in the health premium subsidy, the annual level percentage of payroll contribution rate is estimated at 32.79% with 22.21% paid directly by the employer.(f) For public school employees who first worked for a public school reporting unit before July 1, 2010, who elect defined contribution, and who participate in the personal healthcare fund, the annual level percentage of payroll contribution rate is estimated at 31.54% with 20.96% paid directly by the employer.(g) For public school employees who first worked for a public school reporting unit before July 1, 2010 and who participate in the personal healthcare fund, the annual level percentage of payroll contribution rate is estimated at 40.69% with 30.11% paid directly by the employer.(h) For public school employees who first worked for a public school reporting unit after January 31, 2018 and who elect to become members of the MPSERS plan, the annual level percentage of payroll contribution rate is estimated at 37.74% with 27.16% paid directly by the employer.(3) In addition to the employer payments described in subsection (2), the employer shall pay the applicable contributions to the Tier 2 plan, as determined by the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1301 to 38.1437.(4) The contribution rates in subsection (2) reflect an amortization period of 14 years for 2024-2025. The public school employees' retirement system board shall notify each district and intermediate district by February 28 of each fiscal year of the estimated contribution rate for the next fiscal year.Amended by 2024, Act 120,s 120, eff. 10/1/2024.Amended by 2023, Act 103,s 172, eff. 10/1/2023.Amended by 2022, Act 144,s 126, eff. 10/1/2022.Amended by 2021, Act 48,s 116, eff. 7/13/2021.Amended by 2020, Act 165,s 93, eff. 10/1/2020.Amended by 2019, Act 58,s 92, eff. 10/1/2019.Amended by 2018, Act 265,s 85, eff. 10/1/2018.Amended by 2017, Act 108,s 86, eff. 10/1/2017.Amended by 2016, Act 249,s 83, eff. 10/1/2016.Amended by 2015, Act 85,s 75, eff. 10/1/2015.Amended by 2014, Act 196,s 72, eff. 10/1/2014.Amended by 2013, Act 60,s 62, eff. 10/1/2013.Amended by 2012, Act 201,s 60, eff. 10/1/2012.Amended by 2011, Act 62,s 50, eff. 10/1/2011.Amended by 2010, Act 110,s 58 , eff. 10/1/2010.Amended by 2009, Act 121,s 59 , eff. 10/19/2009.Amended by 2008, Act 268,s 72 , eff. 10/1/2008.Amended by 2007, Act 92,s 6, eff. 10/1/2007.Amended by 2007, Act 6,s 14 , eff. 4/30/2007.Amended by 2006, Act 342, s 76, eff. 10/1/2006.Amended by 2005, Act 155, s 57, eff. 10/1/2005.Amended by 2004, Act 351, s 52, eff. 10/1/2004.Amended by 2003, Act 158, s 54, eff. 10/1/2003.Add. 1992, Act 148, Eff. 10/1/1992 ;--Am. 1993, Act 175, Eff. 10/1/1993 ;--Am. 1993, Act 336, Eff. 10/1/1994 ;--Am. 1994, Act 283, Eff. 10/1/1994 ;--Am. 1995, Act 130, Eff. 10/1/1995 ;--Am. 1996, Act 180, Imd. Eff. 4/19/1996 ;--Am. 1996, Act 300, Eff. 10/1/1996 ;--Am. 1997, Act 93, Eff. 10/1/1997 ;--Am. 1997, Act 142, Imd. Eff. 11/19/1997 ;--Am. 1998, Act 339, Imd. Eff. 10/13/1998 ;--Am. 1999, Act 119, Imd. Eff. 7/20/1999 ;--Am. 2000, Act 297, Imd. Eff. 7/26/2000 ;--Am. 2001, Act 121, Imd. Eff. 9/28/2001 ;--Am. 2002, Act 191, Imd. Eff. 4/26/2002 ;--Am. 2002, Act 521, Imd. Eff. 7/25/2002.