[pps-news] Benefit Rates Table (R 07/06)

[Gabe Nwandu]

August 8, 2006 

 

TO:     All Departments

FR:     Payroll Office

RE:     Benefit Rates Table (R 07/06) 

________________________________________________________

 

The following benefit rates have changed effective with July 2006
earnings. Old rates are in parenthesis.  Percentage based benefits are
calculated based on the monthly gross payroll.

 

1. Workers Compensation Insurance 

    All Funds - 1.62% (1.86%) - decrease of 12.90 percent

 

2. Unemployment Insurance 

    Federal Funds - 0.35% (0.25%) - increase of 40.00 percent

    Other Funds - 0.30% (0.41%) - decrease of 26.83 percent

 

3. Other Post Employment Benefits (OPEB) - formerly Annuitant Health
Insurance 

    All Funds - 2.75% (2.55%) - increase of 7.84 percent

 

4. Benefits Administration Assessment 

    All Funds - 0.14% (0.13%) - increase of 7.69 percent

 

5. Staff Recognition & Development Award Program (SRDP) for
non-represented employees

    0.92% (0.92%) - no change

 

6. Incentive Award Assessment 

    0.00% for CX, SX, RX, K5 and FF

    0.50% for TX until 9/30/06

    0.50% for EX, HX, NX and PA

 

7. Public Employees Retirement System (PERS)

    All Funds - 16.997% (15.942%) - increase of 6.65 percent

 

8. The following are assessed outside of the Payroll Expenditure
Distribution process and charged to your general ledger:

 

a. General Liability (Location 5) - 0.3375% (0.2539%) - increase of
32.92 percent

b. General Liability (Location N) - 0.1200% (0.1300%) - decrease 7.69
percent

c. Employment Practices (Location 5) - 0.1999% (0.1508%) - increase of
32.56 percent

d. Employment Practices (Location N) - 0.0800% (0.0600%) - increase
33.34 percent

 

For a complete list of all the benefit rates, please logon to our
website: http://accounting.ucr.edu/ben2006.htm 

 

Thank You.

*******************************

Gabe Nwandu - MBA, CPA.

Director - Payroll, Travel and Disbursements

University of California, Accounting Department

Riverside, CA. 92521

Tel: 951.827.1956;  Fax: 951.827.3314

E-mail: gabe at ucr.edu; Internet: http://accounting.ucr.edu. 

 

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