|To:||All UPS Agencies|
|From:||Ronald S. Mitchell, Director|
|Subject:||Employer Rate Changes for Retirement Systems|
Employer retirement contribution rates will be changed in UPS effective July 3, 1998 payday. There will be a .6% decrease in the employer's rate for State Retirement, a .1% increase for Teachers' Retirement, and a 1.25% decrease for District Attorneys' Retirement. There will be no change in the employee's rates. The rates for fiscal year 1998/99 are as follows:
Effective on Supplemental documents submitted for compensation for payday 07/03/98, the state's share of retirement should be calculated using the new rates. Agencies are responsible for making any adjustments for payments made in the new fiscal year that are for compensation in the prior fiscal year.
If you have any questions, please call the UPS Help Desk at (504) 342-8928.