[pps-news] Vacation Leave Assessment Rates - October 2010

[Gabe Nwandu]

October 20, 2010



To:         All Departments
Fr:          Payroll Office

Re:         Vacation Leave Accrual Assessment Rates - October 2010
_________________________________________

 

The monthly vacation accrual assessment rates will be reinstated to normal
rates starting October 2010 earnings.  If you may recall, the rates were cut
in half in March 2010 because employees took more furlough time off in lieu
of vacation when the furlough plan was in effect for non-represented
employees.  Furlough plan is over for the non-represented employees and
employees have started or about to start taking vacation time off again on a
regular basis.  Starting July 2010 earnings, the rates were increased
slightly to fund the vacation usage increases during the summer months.
Vacation accrual assessments are used to fund vacation usage and terminal
vacation balance payments.

 

The current factors are available through the Benefit Rates Table - section
A7 ( <http://accounting.ucr.edu/ben2010.htm>
http://accounting.ucr.edu/ben2010.htm).  The factors are also posted below
for your use.




A7

Vacation Assessment  (Gross salary times rate below)

Effective 10/2010 (old factors in parenthesis effective 07/2010) 


LEAVE CODE

CASUAL/
STUDENTS

RETIREMENT WITHOUT FICA

RETIREMENT WITH FICA

SAFETY MEMBERS


A and G

.0612(.0459)

.0704 (.0528) 

.0740 (.0554)

.0749 (.0561) 


B and H

.0734 (.0551) 

.0845 (.0633) 

.0887 (.0666)

.0898 (.0674) 


C and J

.0858 (.0644)

.0986 (.0740) 

.1036 (.0777) 

.1049 (.0786) 


D and K

.0980 (.0735) 

.1127 (.0846)

.1183 (.0888) 

.1198 (.0900)


E

.0980 (.0735) 

.1127 (.0846)

.1183 (.0888) 

.1198 (.0900) 


F

.0000

.0000

.0000

.0000


If you have any questions/concerns, please contact
<mailto:gabe.nwandu at ucr.edu> gabe.nwandu at ucr.edu

 

Thank you 

Payroll Office

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