Year End Checklist for STRS & PERS

As the new fiscal year rapidly approaches, it is time to start preparing for changes to come in Fiscal Year 2018/2019. In addition to all the usual Year End tasks, creating new calendars, pay cycles, pay schedules and rolling forward assignments, there are also rate changes that are made by the California Public Employee Retirement System (CalPERS) and the California State Teachers Retirement System (CalSTRS) that need to be updated in Escape Online. Updating these rates can be done well in advance of the new fiscal year. Contribution and Deduction setup records are date driven, this means that you can end, copy and start a new contribution or deduction through the Contributions Management or Deductions Management activities with a From Date of 7/1/2018 before July 1st!

STRS Contribution and Deduction Rates

New Rates are in effect for the fiscal year 2018-19.

2% at 60 Members
Deduction
STRS = 10.25% (unchanged from last year)
STRSDBS = 8% (unchanged from last year)

Contribution
STRS = 16.28% (New this FY)
STRSDBS = 8.25% (unchanged from last year)
STRSR = 16.28% (New this FY)
STRSEO = 16.28% (New this FY)

2% at 62 Members
Deduction
STRSN = 10.205% (New this FY)
STRSDBS* = 9% (New this FY, In Escape Online 5, there is no deduction set up for 2% @ 62 members because compensation for 2% @ 62 members cannot be directly reported to DBS.  The rate change will affect the return of excess contributions when compensation is transferred to DBS during the annual reconciliation process internally at CalSTRS.  There are no changes needed in Escape Online 5 for this Deduction. 

Contribution
STRSN = 16.28% (New this FY)
STRSDBS = 8.25% (unchanged from last year)
STRSR = 16.28% (New this FY)
STRSEO =  16.28% (New this FY)

PERS Contribution and Deduction Rates

New rates become effective with the first payroll period that ends in July 2018 and are in effect for fiscal year 2018-19.

Classic Members
Deduction
PERS = 7% (unchanged from last year)
Contribution
PERS = 18.062% (New this FY)

New (PEPRA) Members
Deduction

PERSN = 7% (New this FY)
Contribution
PERSN = 18.062% (New this FY)