2022 Legislative Changes (Acts 114/173)

Information on VSERS and VSTRS pension changes in S.286/Act 114 of 2022

In May 2022, the Vermont General Assembly passed S.286/Act No. 114: An act relating to amending various public pension and other postemployment benefits. The tables below summarize the contribution and benefit changes in the Act for active employees in the Vermont State Employees Retirement System (VSERS) and the Vermont State Teachers Retirement System (VSTRS), effective July 1, 2022.

Act No. 114 as enacted can be found here. A bill summary prepared by legislative counsel is here.

*S.286/Act 114 does not make any changes to members of the Vermont Municipal Employees Retirement System (VMERS). For VMERS plan benefit information, click here.

**If you plan to retire by 6/30/2022 and have not already contacted the Retirement Office, please do so immediately via email at Tre.retirementoffice@vermont.gov or via phone at (802) 828-2305.

Teachers Retirement System Changes

Employee Contribution Changes made in S.286/Act 114 will impact all active employees beginning July 2022.

Benefit/COLA Changes made in S.286/Act 114 do not impact benefits for the following groups:

  • Retirees who have retired prior to 6/30/2022.
  • Active Members who are eligible for normal retirement as of 6/30/2022.
  • Vested Deferred Members who have left State service with more than 5 years of creditable service by 6/30/2022 and have not withdrawn funds.

If you are in one of the groups listed above, the “Previous Benefit” column in the tables below apply to you.

*Group #1 are members who were at least 57 years of age or had at least 25 years of service on June 30, 2010. Group #2 are members who were less than age 57 and had less than 25 years of service credit on June 30, 2010. 

State Employees Retirement System Changes
Group F (Most State Employees)

Employee Contribution Changes made in S.286/Act 114 will impact all active employees beginning July 2022. Quartiles will be set as described, here

DHR has calculated the hourly rate of $26.28 as the breakpoint for Group F/F* members beginning with your July 28, 2022 paycheck. This means that employees with an hourly pay rate of $26.27 and below will have a retirement contribution set at 6.65%. All others will have a retirement contibution rate of 7.15%.

Benefit/COLA Changes made in S.286/Act 114 do not impact benefits for the following groups:

  • Retirees who have retired prior to 6/30/2022.
  • Active Members who are eligible for normal retirement as of 6/30/2022.
  • Vested Deferred Members who have left State service with more than 5 years of creditable service by 6/30/2022 and have not withdrawn funds.

If you are in one of the groups listed above, the “Previous Benefit” column in the tables below apply to you.

*Group F is hired before 7/1/08. Group F* is hired on or after 7/1/08. 

Group C (Law Enforcement & Firefighters)

Employee Contribution Changes made in S.286/Act 114 will impact all active employees beginning July 2022.

Benefit/COLA Changes made in S.286/Act 114 do not impact benefits for the following groups:

  • Retirees who have retired prior to 6/30/2022.
  • Active Members who are eligible for normal retirement as of 6/30/2022.
  • Vested Deferred Members who have left State service with more than 5 years of creditable service by 6/30/2022 and have not withdrawn funds.

If you are in one of the groups listed above, the “Previous Benefit” column in the tables below apply to you.

Group D (Judges)

Employee Contribution Changes made in S.286/Act 114 will impact all active employees beginning July 2022. Quartiles will be set as described, here.

DHR has calculated the hourly rate of $84.44 as the breakpoint for Group D members beginning with your July 28, 2022 paycheck. This means that employees with an hourly pay rate of $84.43 and below will have a retirement contribution set at 6.65%. All others will have a retirement contibution rate of 7.15%.

Benefit/COLA Changes made in S.286/Act 114 do not impact benefits for the following groups:

  • Retirees who have retired prior to 6/30/2022.
  • Active Members who are eligible for normal retirement as of 6/30/2022.
  • Vested Deferred Members who have left State service with more than 5 years of creditable service by 6/30/2022 and have not withdrawn funds.

If you are in one of the groups listed above, the “Previous Benefit” column in the tables below apply to you.

Contact Us

Office of the State Treasurer
109 State Street
Montpelier, Vermont 05609
Main Phone: (802) 828-2301
Toll Free: (800) 642-3191

PUBLIC INFORMATION REQUESTS TO:

Ashlynn Doyon at treasurers.office@vermont.gov

Click Here - For Public Records Database

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