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To:      University Business Managers
Human Resources Facilitators

From:  Elizabeth C. (Betsi) Snipes, Director of Payroll Services

Date:   August 24, 2009

The M13 (02,04,06) reports reflecting the retro Teachers’ and State Employees’ Retirement Program (TSERS) rate change for Biweekly 26, Biweekly 01, Biweekly 02, Summer School 03 and 04 and Monthly 01 are available online.  Effective July 1, 2009, the employer rate for TSERS was 8.54 percent which was implemented timely, however; the final bill changed the amount to 8.75 percent. The online reports represent the difference between 8.54 percent and 8.75 percent retroactive to July 1, 2009. Please use these reports to assist you in balancing your accounts.

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