Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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DTL1: No changes.
DTL2: The employer and member contribution rates for those with Pension Plus 2 will be different than the rates for those who are in the original Pension Plus plan. (If you have an employee who first worked in January, but was first reported in February, contact ORS.) Use the new Contribution Rates table.
DTL3: No changes.
DTL4 (on October 1, 2017): For record begin dates on or after October 1, 2017, begin reporting 4% mandatory contributions in the Employer DC Contribution ($) and Employer DC Match Percent (%) fields. This is in addition to any matching contributions the employee is entitled to. Review the Member Benefit Plans link to determine what percentage to report.
DTL4 (on February 1, 2018): For record begin dates on or after February 1, 2018, the match will change for anyone who was hired on or after September 4, 2012 and elected the DC plan. The new match will include anyone who was hired on or after February 1, 2018 and defaulted or elected the DC plan. Employees will receive 100% up to 3% from the employer and should be reported on the Employer DC Contribution ($) and Employer DC Match Percent (%) fields. This is in addition to the 4% employer mandatory contributions. Review the Member Benefit Plans link to determine what percentage to report.
Updated 1/25/2017