UAAL Rate Stabilization Invoice Clarification

Michigan Office of Retirement Services sent this bulletin at 08/22/2013 08:52 AM EDT

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August 22, 2013

UAAL Rate Stabilization Invoice Clarification

Your reporting unit recently received an invoice from the Office of Retirement Services (ORS) for the MPSERS UAAL Rate Stabilization Amount.

For K-12 public schools, intermediate school districts, and charter schools/public school academies, this invoice is referencing the communication sent from the Michigan Department of Education (MDE) on June 6, 2013 to the school business officials.
For Community Colleges and district libraries, this invoice in referencing the communication sent from the Office of Retirement Services (ORS)on August 2, 2013 to the school business officials and library directors.

We would like to remind you of the following:

· Your MPSERS UAAL Rate Stabilization payment must be remitted no later than September 9, 2013 to avoid penalties.

· For Cash Payments:

o Use the DB remittance advice form (R0669C).

o Enter the payment amount in the employer DB contribution field.

o Use the pay period end date of August 31, 2013.

· ACH Payments:

o ACH payment receipt type must be “Contributions and TDP”.

o Enter the payment amount in the Employer Contribution field.

o Use the pay period end date of August 31, 2013.

· Invoice amount will appear on your August 2013 Employer Statement.

· See your accounting representative for details related to accounting methods and associated accounting codes to use when recording the funds in your reporting unit's records.

In addition, we would like to clarify that this payment does not require:

· Payroll reporting process changes. Your payment does not need to be changed in your DTL2 or DTL4 when submitting through the Employer Reporting website.

· Employer contribution rate changes per employee, per pay period.

· Programming changes for payroll reporting purposes to ORS.

Contact ORS at ORS_Web_Reporting@michigan.gov or at 517-636-0166 for questions regarding invoices and payments.

State of Michigan | Department of Technology, Management & Budget | Office of Retirement Services
P.O. Box 30171 | Lansing, MI 48909-7671 | www.michigan.gov/psru

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. For assistance, contact ORS_Web_Reporting@michigan.gov.

The retirement plan information that appears in this email is intended to summarize basic provisions of Public Act 300 of 1980, as amended. Current laws, rates, and factors are subject to change. Should there be discrepancies between the information reflected here and the actual law, the provisions of the law govern.