The Governmental Accounting Standards Board (GASB) requires public employers to provide detailed disclosures of pension information in financial statements. Key standards include:
SERS provides employers with the resources needed to fulfill these requirements, including allocation reports, disclosure information, and supporting documentation for each fiscal year.
The following GASB resources are available to employers:
Annual reports available include GASB Statement No. 74 Reports, GASB Statement No. 75 Reports and Allocation Reports, GASB Statement No. 67 Reports, GASB Statement No. 68 Reports and Allocation Reports, and SERS Annual Comprehensive Financial Reports. Reports are available for fiscal years 2012 through 2024.
Surcharge Minimum Compensation Amounts:
| Fiscal Year | Minimum Compensation |
|---|---|
| FY2026 | $33,000 |
| FY2025 | $30,000 |
| FY2024 | $30,000 |
| FY2023 | $25,000 |
| FY2022 | $25,000 |
| FY2021 | $23,000 |
Employer Contribution Allocation (% of Payroll):
| Category | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Pension | 13.37% | 13.33% | 13.28% |
| Medicare B | 0.59% | 0.62% | 0.67% |
| Death | 0.04% | 0.05% | 0.05% |
| Health Care | 0.00% | 0.00% | 0.00% |
| Total | 14.00% | 14.00% | 14.00% |
