<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:x="urn:schemas-microsoft-com:office:excel" xmlns:p="urn:schemas-microsoft-com:office:powerpoint" xmlns:a="urn:schemas-microsoft-com:office:access" xmlns:dt="uuid:C2F41010-65B3-11d1-A29F-00AA00C14882" xmlns:s="uuid:BDC6E3F0-6DA3-11d1-A2A3-00AA00C14882" xmlns:rs="urn:schemas-microsoft-com:rowset" xmlns:z="#RowsetSchema" xmlns:b="urn:schemas-microsoft-com:office:publisher" xmlns:ss="urn:schemas-microsoft-com:office:spreadsheet" xmlns:c="urn:schemas-microsoft-com:office:component:spreadsheet" xmlns:odc="urn:schemas-microsoft-com:office:odc" xmlns:oa="urn:schemas-microsoft-com:office:activation" xmlns:html="http://www.w3.org/TR/REC-html40" xmlns:q="http://schemas.xmlsoap.org/soap/envelope/" xmlns:rtc="http://microsoft.com/officenet/conferencing" xmlns:D="DAV:" xmlns:Repl="http://schemas.microsoft.com/repl/" xmlns:mt="http://schemas.microsoft.com/sharepoint/soap/meetings/" xmlns:x2="http://schemas.microsoft.com/office/excel/2003/xml" xmlns:ppda="http://www.passport.com/NameSpace.xsd" xmlns:ois="http://schemas.microsoft.com/sharepoint/soap/ois/" xmlns:dir="http://schemas.microsoft.com/sharepoint/soap/directory/" xmlns:ds="http://www.w3.org/2000/09/xmldsig#" xmlns:dsp="http://schemas.microsoft.com/sharepoint/dsp" xmlns:udc="http://schemas.microsoft.com/data/udc" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:sub="http://schemas.microsoft.com/sharepoint/soap/2002/1/alerts/" xmlns:ec="http://www.w3.org/2001/04/xmlenc#" xmlns:sp="http://schemas.microsoft.com/sharepoint/" xmlns:sps="http://schemas.microsoft.com/sharepoint/soap/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:udcs="http://schemas.microsoft.com/data/udc/soap" xmlns:udcxf="http://schemas.microsoft.com/data/udc/xmlfile" xmlns:udcp2p="http://schemas.microsoft.com/data/udc/parttopart" xmlns:wf="http://schemas.microsoft.com/sharepoint/soap/workflow/" xmlns:dsss="http://schemas.microsoft.com/office/2006/digsig-setup" xmlns:dssi="http://schemas.microsoft.com/office/2006/digsig" xmlns:mdssi="http://schemas.openxmlformats.org/package/2006/digital-signature" xmlns:mver="http://schemas.openxmlformats.org/markup-compatibility/2006" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns:mrels="http://schemas.openxmlformats.org/package/2006/relationships" xmlns:spwp="http://microsoft.com/sharepoint/webpartpages" xmlns:ex12t="http://schemas.microsoft.com/exchange/services/2006/types" xmlns:ex12m="http://schemas.microsoft.com/exchange/services/2006/messages" xmlns:pptsl="http://schemas.microsoft.com/sharepoint/soap/SlideLibrary/" xmlns:spsl="http://microsoft.com/webservices/SharePointPortalServer/PublishedLinksService" xmlns:Z="urn:schemas-microsoft-com:" xmlns:st="" xmlns="http://www.w3.org/TR/REC-html40"><head><meta http-equiv=Content-Type content="text/html; charset=us-ascii"><meta name=Generator content="Microsoft Word 12 (filtered medium)"><style><!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Times;
panose-1:2 2 6 3 5 4 5 2 3 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-compose;
font-family:"Times New Roman","serif";
color:windowtext;
font-weight:normal;
font-style:normal;}
.MsoChpDefault
{mso-style-type:export-only;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:11.0pt;font-family:"Times New Roman","serif"'>Good afternoon,<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:11.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:11.0pt;font-family:"Times New Roman","serif"'>This following message (and attached memo) is being forwarded on behalf of the DAS Budget and Management Division. Please share as appropriate within your agency.<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:11.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:11.0pt;font-family:"Times New Roman","serif"'>Thank you,<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Sandy Ridderbusch, Manager<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Oregon Statewide Payroll Services<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'>DAS / State Controller's Division<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'>155 Cottage Street NE, U-50<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'>Salem, OR 97301-3969<o:p></o:p></span></font></p><div style='mso-element:para-border-div;border:none;border-bottom:dotted windowtext 3.0pt;padding:0in 0in 1.0pt 0in'><p class=MsoNormal style='border:none;padding:0in'><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'>(503) 373-0198<o:p></o:p></span></font></p><p class=MsoNormal style='border:none;padding:0in'><font size=2 face="Times New Roman"><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></font></p></div><p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>The pension bond assessment rate is going to increase from 5.95% to 6.33% for pay periods beginning November 1, 2011. We expect the rate to remain at 6.33% through June 30, 2013. However, w</span></font><font face=Times><span style='font-family:"Times","serif"'>e will continue to monitor the cash collected each month and reserve the right to adjust the contribution rate at any time to ensure cash is available to pay debt service when due.<o:p></o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>During the budget development process a fixed dollar amount is included in agency budgets rather than allowing the assessment to fluctuate with payroll changes. By doing so, we ensure the budgeted debt service, in total, precisely matches known debt service requirements. However, during budget execution, we collect the POB assessment as a percentage of payroll. This allows the assessment to qualify as an allowable cost for all federal program and grants where payroll charges are a part of the grant funding.<o:p></o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>OSPS has been notified of the rate change effective for payroll beginning 11/1/2011, paid 12/1/2011. They will implement it effective that date.<o:p></o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'> A brief history of the POB assessment rate is:<o:p></o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:.4in;mso-margin-top-alt:0in;mso-para-margin-right:0in;mso-para-margin-bottom:.5gd;mso-para-margin-left:.4in;text-indent:-45.35pt;text-autospace:none'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'> <u>Payroll Earned During</u> <u>POB Assessment Rate</u><o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>Nov 1, 2003 through 4/30/2004 -0- % of PERS subject payroll<o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>May 1, 2004 through 10/31/2004 7.39% of PERS subject payroll<o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>Nov 1, 2004 through 10/31/2005 6.71% of PERS subject payroll<o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>Nov 1, 2005 through 4/30/2006 6.45% of PERS subject payroll<o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>May 1, 2006 through 12/31/2007 6.20% of PERS subject payroll<o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>January 1, 2008 through 10/31/2011 5.95% of PERS subject payroll<o:p></o:p></span></font></p><p class=MsoNormal style='margin-left:.4in;text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>November 1, 2011 until revised 6.33% of PERS subject payroll. <o:p></o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'><o:p> </o:p></span></font></p><p class=MsoNormal style='text-align:justify'><font size=2 face=Times><span style='font-size:11.0pt;font-family:"Times","serif"'>If you have any questions or concerns, please notify your BAM analyst or contact Mark Miedema (</span></font><a href="mailto:mark.miedema@state.or.us"><font face=Times><span style='font-family:"Times","serif"'>mark.miedema@state.or.us</span></font></a><font face=Times><span style='font-family:"Times","serif"'>) at 503-378-4735.<o:p></o:p></span></font></p><p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><o:p> </o:p></span></font></p></div></body></html>