2019 Contribution Rate and Transitional Uploads-Employers

Dear Employers Group,

 

As you know, July 1, 2019 brings changes to the employer and employee contribution rate for both the Public Employee Plan and the Paid Firefighter Plan B. This email outlines those changes and the transitional payroll process.

Public Employee Plan only, effective 7/1/2019
Employers may fund some or all of the required employee contribution. For state employees in the Public Employee plan, the State of Wyoming pays 5.57% toward the employee contribution and the remainder is paid out-of-pocket by state employees. Please review the Public Employee Plan gradual contribution rate increase show below.

 

Notes: 
The Rehired Retiree payment will increase according to this schedule. Brand inspectors and at-will employee contractors of the State will also pay the increase and will see the same phase-in structure. 

For the Education Group keep in mind if there is a scheduled contribution increase that is for the same month you are paying in advance, the increased contribution rate must be reported not the current rate.


Paid Firefighter Plan only, effective 7/1/2019

Employers may fund some or all of the required employee contribution. For paid firefighters the rate change is shown in the chart below.

Contribution Rate Transitional Payroll File Uploads

When a plan contribution rate changes, there are some employers who report payroll that spans the switch. To support paying contributions at both the old rate and the new rate, you would take advantage of the Payroll End Date column. This column tells RAIN what month to apply the contributions reported in that row. If the contributions apply to the prior period, they will be charged at the old rate. Otherwise, they will be charged at the new rate. This consideration is especially important for employers who pay employees two weeks behind, as their monthly contribution file always contains pay split between two months.
 
Remember if your pay periods are calendar month periods or if you choose to report at the higher rate instead of splitting out the contributions then this information regarding the transitional payroll would not apply to you.

the footer of the document notes the most current revision, March 2019. If you click this link and get an older version, please clear your browser cache.
 
Contact WRS Employer Relations
Phone: (307) 777-2077
Email: ret-employer-relations@wyo.gov

 

Wyoming Retirement System
6101 Yellowstone Rd, Suite 500
Cheyenne, Wyoming 82002