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<p class="MsoNormal"><span style="font-size:10.5pt">December 23, 2011<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.5pt">Dear PPS User,<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span class="bannertitle"><b>January paychecks will reflect increased OASDI tax at 6.2%
</b></span><b><o:p></o:p></b></p>
<p>Many faculty and staff have kept an ear tuned to the current debate in Washington D.C. about the "Payroll Tax." Last year’s Tax Relief Act of 2010 reduced the employee OASDI rate for 2011 from 6.2% to 4.2%. The rate was scheduled to go back to 6.2% starting
January 1, 2012.<o:p></o:p></p>
<p>We just heard on the news today that Congress just passed the legislation to extend the employee share of the OASDI at the 4.2% rate for another two months in calendar year 2012.
<o:p></o:p></p>
<p>We processed the January 3rd payroll using the 6.2% employee contribution rate on December 20, 2011. We plan to implement the newly revised rate as soon as possible before we compute the February 1, 2012 payroll. Corrections related to the January 3<sup>rd</sup>
payroll over withholding will be made on your February 1<sup>st</sup> payroll. <br>
<br>
This information was previously posted by the University of California Office of the President at
<a href="http://www.atyourservice.ucop.edu/"><span style="color:windowtext">http://www.atyourservice.ucop.edu/</span></a><span style="font-size:11.0pt"><o:p></o:p></span></p>
<p>If you have any questions, please contact Payroll Supervisor, <a href="mailto:grant.christensen@ucr.edu">
<span style="color:windowtext">grant.christensen@ucr.edu</span></a> or Payroll Director,
<a href="mailto:gabe.nwandu@ucr.edu"><span style="color:windowtext">gabe.nwandu@ucr.edu</span></a>.
<o:p></o:p></p>
<p><span style="font-size:11.0pt;font-family:"Calibri","sans-serif"">Happy Holidays<br>
UCR Payroll Office<o:p></o:p></span></p>
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