23-P-020 Fiscal Year 2024 Payroll Contributions
The attached schedules contain employer’s contribution rates for KPERS, unemployment insurance, state leave assessment, group health insurance, and worker’s compensation insurance for fiscal year 2024. The fiscal year 2024 rates will become effective with the on-cycle payroll period beginning June 11, 2023, paid July 7, 2023. The withholding rates for OASDI, Medicare, Federal income taxes, and Kansas income taxes remain unchanged for the remainder of calendar year 2023.
For fiscal year 2024, the employer’s contribution to KPERS Death and Disability Insurance will be 1.00% (except for retirement codes J1, J2, J3 which are 0.4%).
Since SHARP uses pay period end dates to determine if the KPERS Death and Disability Insurance contribution is taken, no contribution will be taken for paycheck adjustments with payroll period end dates that contain an original check date within a moratorium period. Previous moratoriums for KPERS Death and Disability Insurance contributions were in place for payroll periods with an original check date between:
April 01, 2010-June 30, 2010
April 01, 2011-June 30, 2011
April 01, 2012-June 30, 2012
April 01, 2013-June 30, 2013
March 25, 2016-September 30, 2017
July 01, 2020-June 30, 2021
For Regent institutions, previous moratoriums do not extend to members of Board of Regents retirement plans who elect to continue the Death and Disability Insurance coverage while on leave without pay under the provisions of K.S.A. 74-4927a(8), which specifically requires the “employee” to remit the required contribution while on leave without pay.
The Office of Accounts and Reports, Payroll Systems Team will update the SHARP system to reflect the changes in employer’s contribution rates. Regents’ institutions are responsible for ensuring the changes in rates are made in their individual systems. Regents’ institutions are also responsible for ensuring that the SMART INF06 impacts the correct fiscal year and account codes.
NR:SGZ:cmc
