|
|
|
|
|
UC DAVIS: ACCOUNTING & FINANCIAL SERVICES July 11, 2005 DEANS, DIRECTORS, DEPARTMENT CHAIRS, AND ADMINISTRATIVE OFFICERS RE: 2005-06 Changes in Annuitant Health/Dental Assessment IMPORTANT, PLEASE IMMEDIATELY DELIVER TO DEPARTMENTAL ACCOUNTING STAFF For fiscal years 2004-05 and earlier, payroll assessments for annuitant health and dental benefits and related benefits administration costs were combined and appeared on the general ledger reports as object code 8990 expenditures (Retirees med benefit/benefits mgmt) in SUB6. Effective July 2005, these costs will be separately tracked in order to comply with new Governmental Accounting Standards Board (GASB) requirements regarding Other Post-employment Benefits (postretirement benefits other than pensions), or OPEB. OPEB costs will appear on the general ledger reports as object code 8231 expenditures; benefits administration costs will appear as object code 8995 expenditures. Current and revised rates per $100 of retirement covered payroll are as follows: $2.25 = 2004-05 Rate for OPEB $0.10 = 2004-05 Rate for benefits administration $2.55 = 2005-06 Rate for OPEB $0.13 = 2005-06 Rate for benefits administration For budget planning purposes, please continue to use the standard planning rates (reference systemwide Contract and Grant Memo at http://www.ucop.edu/raohome/cgmemos/sup99-01.htm). Please contact Sharon Henn at slhenn@ucdavis.edu if you have questions. J. Michael Allred< Associate Vice Chancellor-Finance/Controller 05-077
 Office of the Chancellor | Contact Information | Current Issues | Speaking Out | Staff and Organization | Philosophy of Purpose | Principles of Community | Administrative Resources Modified: 12/14/2006 12:24:46 PM Comments: |
