Greetings!

We have received a release containing table updates to support the following:

An increase in the employer contribution rates for the California Public Employees Retirement System (CalPERS) which are changing as of July 1, 2012.  The new rates as follows:
    o PERS Employer Contribution Rate                        19.651%
    o PERS FICA Employer Contribution Rate              19.651%

An increase in the Covered Compensation Limit for 2012 in accordance with the announced cost of living adjustment from the IRS for defined benefit retirement plans.  The new limits are as follows:
     o The annual compensation limit for employees who became active University of California Retirement Plan (UCRP) members prior to July 1, 1994 has been increased from $360,000.00 to $375,000.00.
     o The annual compensation limit for employees who became active UCRP members on or after July 1, 1994 has been increased from $245,000.00 to$250,000.00.

As previous releases this month the changes must be in place prior to the first compute of July 2012 earnings.

Please approve as soon as possible.

Thanks!