To: Campus Unit Financial Leads, HR Leads and Secondary Contacts, University Business Managers
From: Sheree Harmon, Director of Benefits & Leave Administration, Walter Miller, Director of Payroll Services
The employer retirement contribution rates have been communicated to us by the North Carolina Teachers and State Retirement System. Effective July 1, 2020, the TSERS employer contribution rate increased from 19.79% to 21.68% and ORP employer disability and retiree health contribution rate increased from 6.57% to 6.77%. For more information about the rates, please see the Wednesday July 8, 2020 Retirement Monitor.
The new rates will be applied beginning with Biweekly 01 (B01 payday July 17) and Monthly 01 (M01 payday July 31).
If you have any questions, please email email@example.com.