Every August, we provide you with an estimate of your annual contributions for the current State fiscal year (April 1 – March 31). You use the Annual Estimate and Invoice application to view your estimate, which is available until November when we provide your actual invoice.
You are required to pay these contributions by February 1 of the next calendar year. Late payments accrue interest at the rate of 7.0.
Although your payment is due February 1, you can choose to pre-pay a discounted amount by December 15. Both the estimate and the invoice always provide you with the discounted amount.
The Annual Estimate and Invoice application not only provides you with an estimate and invoice for your annual contributions, it also provides payment instructions and information on how the invoice figures are calculated. Local governments and other participating employers are responsible for their share of retirement costs based on actual salaries from the most recently completed fiscal year.