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As of July 1, 2023, contributions to the FRS investment plan have increased, but employees do not owe this increase. Key changes in laws and FRS policies have been implemented this year. For employees in the FRS investment plan, personal contributions remain at 3%. However, employers also contribute a significant percentage based on employee classification: regular risk employees have an employer contribution of 6.3% per year, while special risk employees, such as first responders, police officers, firefighters, and correctional officers, see a contribution of 14% of their pay into the FRS investment plan.
