Agencies that have Tier 6 employees enrolled in the New York State Teachers Retirement should have received an email from this retirement system on 6/4/2013. The email contained a link and instructions to enter projected salaries for these employees in the NYSTRS portal.
OSC has been advised SUNY administration will be emailing agencies the projected salaries to be used to update the NYSTRS portal.
There are currently no Education (11xxx) Tier 6 employees enrolled in the New York State Teachers Retirement System.
The NYS Teachers Retirement System defines salary for percentage employees as:
Annual Salary multiplied by percentage if applicable.
Example: 50 % employee with the annual salary of $75,000.00
Contribution percentage rate would be 3%.
After the projected salary has been saved in the NYSTRS portal, the rate for the fiscal year 2013-14 will appear.
After updating the NYSTRS portal, the agency must verify that the contribution rate returned by the NYSTRS portal matches the current payroll record. If the rate entered does not match the employees’ current payroll record, the agency must update the new rate in PayServ.
- Enter the new rate (if required) in the Retirement Plans page in PayServ to ensure the correct contribution rate is calculated in the employee’s paycheck.
- Open the Retirement Plans page. (Home>Benefits>Enroll In Benefits>Retirement Plans).
- Enter employee's Empl ID in search box.
- Click Search.
- Select the correct Empl Rcd # for the corresponding Job Record (if multiple records exist).
- Enter a row under Coverage
- Enter the payroll period begin date in the Deduction Begin Date field.
- Enter the employee’s Date of Membership “Election Date”.
- Tab to the Percentage field and enter the contribution rate based on the employees’ annual salary.
- Click Save.