Reform Alert 45 – Two Important Reporting Effective Dates

January 24, 2013

 

Reform Alert 45 – Two Important Reporting Effective Dates

 

Updated FY2012-13 Employer Contribution Rates

The FY12-13 Employer Contribution Rates are due on member wages paid between February 1, 2013 and September 30, 2013. These rates can be found on the Employer Information website at www.michigan.gov/psru under Contribution Rates. Employer contributions are effective with the first Detail 2 record with an end date on or after February 1, 2013. This effective date may be different from the member election contribution rate changes. If so, you will base the employer contribution rates on the member’s current benefit plan.

 

MPSERS Reform Member Benefit Plan Contribution Rates.

Reporting contribution changes for all member benefit plan elections are effective with your retirement reporting pay period with a start date on or after February 1, 2013. You are required to report wages when they are paid, not when they are earned, so you will begin withholding the new member contributions for the first pay period that will be reported with a start date on or after February 1, 2013. Some reporting units may need to withhold the new member contribution rates prior to February 1, 2013.

 

A chart of the new member contribution rate is located at www.michigan.gov/psru > 2012 Retirement Reform > Reporting Changes – Benefit Plans.

 

IMPORTANT NOTE: If for any reason an employee’s Benefit Plan changes after February 1, 2013, the corresponding employer contributions will also change.

 

Use your Payroll Calendar to determine which pay period you will need to begin withholding the new contribution rates.

 

Example:

 

 

If you have any questions, please contact ORS_Web_Reporting@michigan.gov.