- Knowledge Base Categories:
- School Accounting System
- Payroll
Training Tidbit: Idaho Retirement Rate Changes Reminder
Remember, the Idaho retirement rates are changing July 1st to be as follows:
General Member – 6.71% for employee contributions and 11.18% for employer contributions
Public Safety Member – 9.83% for employee contributions and 13.26% for employer contributions
School Employee Member – 7.62% for employee contributions and 12.69% for employer contributions
Be sure to update the new retirement rates in the following locations in Payroll:
- Enter the new rates in the Deduction File if the retirement deduction is set up with a rate table, or else on the Deductions screen in the Employee File if the retirement deduction is not set up with a rate table within the Deduction File.
- Enter the new rates for the employer contributions in the Employer Rate section for the Class 1, Class 2, and Class 3 fields within the Idaho Retirement Report option.