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<p class="MsoNormal">Forwarded on behalf of CPERS:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">-----Original Message-----<o:p></o:p></p>
<p class="MsoPlainText">From: TOBIASSON Shauna M * DAS <<a href="mailto:Shauna.M.TOBIASSON@oregon.gov">Shauna.M.TOBIASSON@oregon.gov</a>><o:p></o:p></p>
<p class="MsoPlainText">Sent: Friday, March 27, 2020 3:04 PM<o:p></o:p></p>
<p class="MsoPlainText">Subject: SB1049 & Salary Limits<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Agency Payroll & HR,<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">As PERS continues to work on implementing SB1049 we are committed to sharing any information we receive that may be helpful in understanding the provisions of the bill and how it impacts our work.
<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Attached is some information that PERS shared to help with the partial year limits calculations for the new $195,000.00 salary cap for 2020. The yearly limit will be prorated based on months of employment. Partial months count as one
month. What this means for example is that if someone terminates employment in March, and their reported wages exceed the monthly prorate for the cap, you may be asked to make entries to take back contributions. There will not be programming in place to catch
all of the scenarios in advance; however, we will walk you through any necessary adjustments as they arise.
<o:p></o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Please let me know if you have any questions. Thank you! <o:p>
</o:p></p>
<p class="MsoPlainText"><o:p> </o:p></p>
<p class="MsoPlainText">Shauna Tobiasson | Senior CPERS Analyst | DAS-EGS-CPERS <a href="mailto:Shauna.m.tobiasson@oregon.gov">
Shauna.m.tobiasson@oregon.gov</a> | Cell: 971-719-3173<o:p></o:p></p>
<p class="MsoPlainText">Website: <a href="http://www.oregon.gov/DAS/Financial/payroll/Pages/index.aspx">
http://www.oregon.gov/DAS/Financial/payroll/Pages/index.aspx</a><o:p></o:p></p>
<p class="MsoPlainText">“With the new day comes new strength and new thoughts.” -Eleanor Roosevelt<o:p></o:p></p>
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