OCAA wants to advise you that effective 7-1-11, the 2011-12 employee reverse pick-up rate for the 2.7% @ 55 retirement enhancement will increase slightly. Each year your contribution changes a bit, based on annual contractually agreed upon calculations. Your 2010-11 rate was 2.48% and your 2011-12 rate is 3.07% which represents a .59% increase. The increase in employee contribution will be reflected on your 7-22-11 paycheck.
This rate increase has nothing to do with the contract negotiations that are ongoing now. It is pursuant to the initital 2.7% @ 55 contract agreement with the County.