15-P-023 KPERS Employer Rate Reduction for Fiscal Year 2015 (December 22, 2014)
Informational Circular No.: 15-p-023
Supersedes Informational Circular No: 14-P-030 Attachment A
Effective Date: Pay Period Beginning December 21, 2014; Ending January 3, 2015; Paid January 16, 2015
Contact Name: Nancy Ruoff
Ph: (785) 296-2853
Approval: Nancy Ruoff (Original Signature on File)
Summary: KPERS Employer Rate Reduction for the Remainder of Fiscal Year 2015
Pursuant to the Governor’s announced allotment plan, some KPERS employer contribution rates will be reduced for the second half of Fiscal Year 2015. The rate for Regular and Corrections KPERS members will be reduced from the current rate of 12.12 percent (base rate of 11.27 percent plus Death and Disability rate of 0.85 percent) to a composite rate of 9.5 percent (base rate of 8.65 percent plus Death and Disability rate of 0.85 percent). This rate reduction also includes Legislators and legislative agencies. However, it does not include KPERS Police and Fire members and Judges. The reduced contribution rates will be effective with the payroll period beginning December 21, 2014 and ending January 3, 2015, paid January 16, 2015.
Please refer to the attachment for a revised listing of all KPERS employer rates. The employer rates that have been reduced are in bold font on the attachment.
The Office of Systems Management, Payroll Systems Team will make the necessary updates to the SHARP payroll system to reflect these changes in employee contribution rates. Regent institutions are responsible for ensuring these rate changes are reflected in their individual systems.