02-P-041 New Payroll Deduction Codes for Parking - Security Benefit Parking Lot
|DATE:||May 10, 2002|
|SUBJECT:||New Payroll Deduction Codes for Parking - Security Benefit Parking Lot|
|EFFECTIVE DATE:||Payroll Period Beginning April 28, 2002 and Ending May 11, 2002, Paid May 24, 2002|
|ONTACT:||Roger Basinger||(785) 296-5387||(email@example.com)|
|SUMMARY:||Addition of New Parking Deduction Codes PPKT0B, PKT0BB, PPKTRB, and PKTRBB|
To facilitate the collection of parking fees for the Security Benefit Parking Lot, payroll deduction codes PPKT0B (pre-tax parking, non-reserved), PKT0BB (after-tax parking, non-reserved), PPKTRB (pre-tax parking, reserved), and PKTRBB (after-tax parking, reserved) have been added to SHARP effective April 28, 2002. The employee deduction for the non-reserved spaces (codes PPKT0B and PKT0BB) will be $6.92 per bi-weekly payroll period. The employer rate for the non-reserved spaces, payroll deduction code PKAD01 (which is already established), will be $0.53 (.0765 X $6.92) per bi-weekly payroll period. The employee deduction for the reserved spaces (codes PPKTRB and PKTRBB) will be $8.08 per bi-weekly payroll period. The employer rate for the reserved spaces, payroll deduction code PKADR1 (which is already established) will be $0.62 (.0765 X $8.08).
The Division of Accounts and Reports, Payroll Systems 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 individual systems.