|DATE:||November 27, 2001|
|SUBJECT:||KPERS Death and Disability Insurance Contributions|
|EFFECTIVE DATE:||January 1, 2002|
|CONTACT:||Kathy Ogle||(785) 296-2290||(firstname.lastname@example.org)|
|SUMMARY:||End of Moratorium on Employer's Contributions for KPERS Death and Disability Insurance|
The moratorium on KPERS Death and Disability Insurance employer contributions will expire as of December 31, 2001. As a result, the Division of Accounts and Reports will again begin collecting and remitting KPERS Death and Disability contributions effective with the pay period beginning December 9, 2001 and ending December 22, 2001, paid January 4, 2002.
Agencies are reminded that it is extremely important that the appropriate 'GTL' code be established in SHARP's General Deduction Data for new employees so that the proper contribution amount is calculated. (Go, Compensate Employees, Maintain Payroll Data U.S., Use, General Deduction Data) Attached is a schedule listing the percentage rates for employee/employer retirement plan contributions, updated with the Death and Disability Insurance Contribution rates and 'GTL' codes.
The Division of Accounts and Reports, Payroll Services Team will make the necessary updates to the SHARP payroll system to effect this change for all employees for whom SHARP calculates pay. Regent's institutions are responsible for ensuring that this change is made in their respective systems prior to December 22, 2001.
Attachment A (.pdf)