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To:     Business Managers
Human Resources Facilitators

From:  Dennis Press, University Controller

Date:  September 10, 2011

This is to provide an update regarding the 1.36% Employer Contribution Reserve for State Retirement.  The University has received notification from State-level offices that the funds no longer need to be held in reserve for a potential reduction in the employer contributions to the retirement system later in the fiscal year.  The University will transmit the full 10.51% to State Retirement each month for fiscal year 2010-11.

Therefore, use of the new FRS expense object code 1823 is no longer needed to separately account for the 1.36% portion of the Employer Contribution for State Retirement.  FRS expense object code 1822 will account for the full 10.51% Employer Contribution for State Retirement.

Thank you.

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