To: Business Managers
From: Dennis Press, University Controller
Date: June 30, 2011
The employer contribution rates for retirement plans are changing for fiscal year 2011-2012. Effective July 1, 2011, the TSERS rate will increase from 10.51 to 13.12%. The ORP rate will increase from 12.26% to 12.36%. These increased rates will be reflected beginning with Biweekly Payroll 26 dated July 1, 2011, and the Monthly Payroll 01 dated July 29, 2011.
The individual components of the new employer contribution rates are:
TSERS % ORP %
Pension Fund / Contribution to Vendor 7.44 6.84
Retiree Health Plan Reserves 5.00 5.00
Death Benefit Trust Fund 0.16 –
Disability Income Plan 0.52 0.52
Total Employer Contribution Rate 13.12 12.36