Nebraska Retirement Rate Change Reminder
Don’t forget the rates for retirement are changing September 1st to be as follows:
Total Employee Contributions = 9.78%
Total Employer Contributions = 9.8778%
If your retirement deductions are set up in a Rate Table in the Deduction File, the rates can either be entered now (by entering the new rates on the right-hand side of the Rate Table and specifying September 1st as the Change Date) or after completing your last payroll for August (by editing the current rates on the left-hand side of the Rate Table).
Note: The rates noted above are the total contribution rates. You may have multiple retirement deductions defined (for example, one deduction with the designated object code (in the Expense Mask field) for the employer share of the regular retirement contributions and a second deduction with the designated object code for the increased retirement contributions), but the totals of the multiple deductions must equal the rates noted above.