CalSTRS Employer Directive 2021-05
- Knowledge Assistant
Owned by Knowledge Assistant
Jun 16, 2021
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Description of Issue
This directive includes changes to the reporting of rates on the F496. We can no longer submit files with a rounded rate of 1021 effective July 1, 2021.
Context
- Payroll
- California
- CalSTRS Report
Cause
Included in directive was the following detail -
ACTION: When reporting the member contribution rates for creditable compensation reported to the DB Program for creditable service performed on or after July 1, 2021, report the rates as follows on the F496:
• Retirement formula 2% at 60 rate of 10.25%: Report as 1025, blank or zeros
• Retirement formula 2% at 62 rate of 10.205%: Report as blank or zeros
Resolution
Use the Export/Import functionality in the Period Records to zero out the Pre-tax Rate field on affected records before creating the submission file.
Additional Information