Employer Pension Contributions Increased from 8.5% to 8.75% of Compensation, with the Additional 0.25% Allocated to the Basic Plan Effective July 1, 2025

As determined by the Basic Agreement and FLTTA, effective July 1, 2025, pension contributions for signatory employers will increase by 0.25%. This increase brings the Pension Plans’ employer contribution rate to 8.75% of compensation.

For the first $150,000 in compensation, the entirety of the 0.25% contribution increase will be allocated to the Basic Plan to further support funding and paying promised benefits from the Basic Plan.

The allocation of the new 8.75% employer pension contribution rate between the Basic and Supplemental Plans will change as follows effective July 1, 2025:

• 8.75% of the first $20,000 in compensation to the Basic Plan (previously 8.5%)
• 6.55% from $20,001 up to $150,000 in compensation to the Basic Plan (previously 6.3%)
• 2.2% from $20,001 up to $150,000 in compensation to the Supplemental Plan (no change)
• 8.75% of compensation in excess of $150,000 to the Supplemental Plan (previously 8.5%)

For more information on these changes, refer to the March 2025 Pension Plans Summary Plan Description and its updates.