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

[Gabe Nwandu]

July 26, 2007

 

TO:     All Departments

FR:     Payroll Office

RE:     Benefit Rates Table (R 07/07) 

________________________________________________________

 

The following benefit rates have changed effective with July 2007
earnings. Old rates are in parenthesis.  Percentage based benefits are
calculated based on the monthly gross payroll.

 

1. Workers Compensation Insurance 

    All Funds - 1.51% (1.62%) - decrease of 6.90 percent

 

2. Unemployment Insurance 

    Federal Funds - 0.30% (0.35%) - decrease of 14 percent

    Other Funds - 0.24% (0.30%) - decrease of 20 percent

 

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

    All Funds - 2.86% (2.75%) - increase of 4 percent

 

4. Benefits Administration Assessment 

    All Funds - 0.18% (0.14%) - increase of 29 percent

 

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

    All Funds - 0.89% (0.89%) - same 

 

6. Public Employees Retirement System (PERS)

    All Funds - 16.663% (16.997%) - decrease of 2 percent

 

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

 

a. General Liability (Location 5) - 0.2194% (0.3375%) - decrease of 35
percent

b. General Liability (Location N) - 0.1200% (0.1200%) - no change

c. Employment Practices (Location 5) - 0.1964% (0.1999%) - decrease of
0.25 percent

d. Employment Practices (Location N) - 0.0800% (0.0800%) - no change

 

For a complete list of all the benefit rates, please logon to our
website: http://accounting.ucr.edu/ben2007.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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