MFPRSI LOGO

MFPRSI. Municipal Fire & Police Retirement System of Iowa

Contribution Rates

Contribution Rate July 1, 2020 - June 30, 2021

Employee Rate: 9.40%
Employer Rate: 25.31%

Valuation as of July 1, 2019 (Contribution Effective July 1, 2020)

Preliminary Total Contribution

Annual Normal Cost: $55,133,707
Estimated Member Contributions: 29,698,115
Unfunded Actuarial Accrued Liability Amortization Payment: 54,519,817
Total (Cities plus State) Contributions = (1) - (2) + (3): 79,955,409

Cities' Contribution

Preliminary Total Contribution = (4): 79,955,409
Estimated State Contribution: 0
Preliminary Cities' Contribution = (5) – (6): 79,955,409
Covered Payroll: 315,937,395
Cities' Contribution as a percent of payroll = (7) / (8): 25.31%
Minimum required contribution rate for Cities: 17.00%
Cities' Contribution = [Greater of (9) or (10)] x (8): 79,963,755

Historical Contribution Rates

17.00% for the period 1/1/92 – 6/30/93*
19.66% for the period 7/1/93 – 6/30/94 
18.71% for the period 7/1/94 – 6/30/95 
17.66% for the period 7/1/95 – 6/30/96 
17.00% for the period 7/1/96 – 6/30/97*
17.00% for the period 7/1/97 – 6/30/98*
17.00% for the period 7/1/98 – 6/30/99*
17.00% for the period 7/1/99 – 6/30/00*
17.00% for the period 7/1/00 – 6/30/01*
17.00% for the period 7/1/01 – 6/30/02*
17.00% for the period 7/1/02 – 6/30/03*
20.48% for the period 7/1/03 – 6/30/04
24.92% for the period 7/1/04 – 6/30/05
28.21% for the period 7/1/05 – 6/30/06
27.75% for the period 7/1/06 – 6/30/07
25.48% for the period 7/1/07 – 6/30/08
18.75% for the period 7/1/08 – 6/30/09
17.00% for the period 7/1/09 – 6/30/10*
19.90% for the period 7/1/10 – 6/30/11
24.76% for the period 7/1/11 – 6/30/12
26.12% for the period 7/1/12 – 6/30/13
30.12% for the period 7/1/13 – 6/30/14
30.41% for the period 7/1/14 – 6/30/15
27.77% for the period 7/1/15 – 6/30/16
25.92% for the period 7/1/16 – 6/30/17
25.68% for the period 7/1/17 – 6/30/18
26.02% for the period 7/1/18 – 6/30/19
24.41% for the period 7/1/19 – 6/30/20
25.31% for the period 7/1/20 – 6/30/21
* Rate certified at statutory minimum of 17.00%

 

Contribution Rate July 1, 2021 - June 30, 2022

Employee Rate: 9.40%
Employer Rate: 26.18%

Valuation as of July 1, 2020 (Contribution Effective July 1, 2021)

Preliminary Total Contribution

Annual Normal Cost: $56,807,678
Estimated Member Contributions: 30,819,788
Unfunded Actuarial Accrued Liability Amortization Payment: 59,851,487
Total (Cities plus State) Contributions = (1) - (2) + (3): 85,839,377

Cities' Contribution

Preliminary Total Contribution = (4): 85,839,377
Estimated State Contribution: 0
Preliminary Cities' Contribution = (5) – (6): 85,839,377
Covered Payroll: 327,870,085
Cities' Contribution as a percent of payroll = (7) / (8): 26.18%
Minimum required contribution rate for Cities: 17.00%
Cities' Contribution = [Greater of (9) or (10)] x (8): 85,836,388

Historical Contribution Rates

17.00% for the period 1/1/92 – 6/30/93*
19.66% for the period 7/1/93 – 6/30/94 
18.71% for the period 7/1/94 – 6/30/95 
17.66% for the period 7/1/95 – 6/30/96 
17.00% for the period 7/1/96 – 6/30/97*
17.00% for the period 7/1/97 – 6/30/98*
17.00% for the period 7/1/98 – 6/30/99*
17.00% for the period 7/1/99 – 6/30/00*
17.00% for the period 7/1/00 – 6/30/01*
17.00% for the period 7/1/01 – 6/30/02*
17.00% for the period 7/1/02 – 6/30/03*
20.48% for the period 7/1/03 – 6/30/04
24.92% for the period 7/1/04 – 6/30/05
28.21% for the period 7/1/05 – 6/30/06
27.75% for the period 7/1/06 – 6/30/07
25.48% for the period 7/1/07 – 6/30/08
18.75% for the period 7/1/08 – 6/30/09
17.00% for the period 7/1/09 – 6/30/10*
19.90% for the period 7/1/10 – 6/30/11
24.76% for the period 7/1/11 – 6/30/12
26.12% for the period 7/1/12 – 6/30/13
30.12% for the period 7/1/13 – 6/30/14
30.41% for the period 7/1/14 – 6/30/15
27.77% for the period 7/1/15 – 6/30/16
25.92% for the period 7/1/16 – 6/30/17
25.68% for the period 7/1/17 – 6/30/18
26.02% for the period 7/1/18 – 6/30/19
24.41% for the period 7/1/19 – 6/30/20
25.31% for the period 7/1/20 – 6/30/21
26.18% for the period 7/1/21 – 6/30/22
* Rate certified at statutory minimum of 17.00%