Workers’ Compensation Insurance (WCI) contribution rates as reported in Informational Circular 07-P-032, dated June 18, 2007, for fiscal year 2008 have been amended. The correct rates are shown on Attachment A of this circular and will be used beginning with the payroll beginning July 15, 2007, ending July 28, 2007, paid August 10, 2007.
The Division of Accounts and Reports, Payroll Systems Team, is responsible for updating the SHARP payroll system to effect this change for all employees for whom SHARP calculates pay. Agencies do not need to initiate paycheck adjustments to correct the erroneous WCI contributions withheld for the first two payroll periods of FY08. The Health Care Finance Authority will process interfund vouchers to correct these contributions. Regents’ Institutions are responsible for ensuring that this change is made in their individual systems. KEO:JJM:kao Attachment: A (.pdf)
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