Employer Contribution Rate for Fiscal Year 2015-2016
The employer contribution rate for fiscal year 2015-2016 will be 25.84%. The rate applies to salary and wages earned from July 1, 2015, through June 30, 2016. This rate was determined by PSERS’ actuary and reflects the rate caps established by Act 120 of 2010. The rate was certified by the PSERS Board of Trustees at its meeting on December 9, 2014. In addition, the employer contribution rate may change if pension legislation is enacted prior to June 30, 2015. The employer contribution rate for fiscal year 2015-2016 consists of 25% for pension costs and 0.84% for premium assistance payments. The projection for the employer contribution rate for fiscal year 2015-2016, prior to the rate caps being established with Act 120 of 2010 was 33.49%.
The session will last approximately 2 hours. Our primary focus will be directed to leaves of absences and the creation of the proper Contract Records, the reporting of salary, contributions, and service units.
Note: Please bring your own beverages and snacks. Unfortunately, PSERS is not permitted to offer refreshments.
2014 Premium Assistance Verification
The Premium Assistance Verification will commence this week as reports are being mailed to the Business Managers of Commonwealth School Employers. As in the past, these listings represent monthly Premium Assistance payments made to retirees as a reimbursement of premiums paid to your health insurance plan for their personal coverage. The Internal Revenue Service requires PSERS to verify that premiums were actually paid by retirees receiving this reimbursement. PSERS is requesting that employers verify premiums paid during the 2014 calendar year. In order to ensure there is no interruption in Premium Assistance to your plan participants, please complete and return the report to PSERS by March 31, 2015. Calls regarding the 2014 Premium Assistance verification should be directed to the Premium Assistance Unit at 1-866-483-5509.
Your assistance in verifying these payments is greatly appreciated.
PSERS recently implemented the new automated billing for your qualified part-time members. To remit payment for the amount due on the Employer Statement of Amount Due for WNC Reported for Qualified Members, please send the following to PSERS at 5 N 5th Street, Harrisburg, PA 17101-1905:
- A copy of the billing
- A check payable to PSERS
NOTE: You may not use the PNC Cash Con to remit payment for this item.