Pension Withholding Contribution Changes
February 21, 2014 payroll will include a 0.25% increase in your pension withholding. On July 1, 2013, your SPTRFA pension contribution rates, made by payroll deduction through SPPS (the District), were scheduled to be increased by 0.25%. We were notified by the District of an unfortunate delay in the implementation of the increased pension contribution rate. The District will begin to apply the additional 0.25% deduction beginning with the February 21st SPPS payroll.
The proper collection of pension contributions is the responsibility of St. Paul Public Schools, but we can share what we now understand. The 0.25% increase will be retroactive to July 1, 2013. The time period for the retroactive collection may be stretched over the remainder of the school year, but this will ultimately be the decision of St. Paul Public Schools. The SPPS Human Resources/Payroll department is working on the plan this week and will communicate the plan after it has been approved.
The SPTRFA pension fund is not part of the District, so you may wish to contact the SPPS Payroll department directly for further information. If you have questions regarding your payroll deductions, please contact SPPS payroll directly.