Additional Payroll Retirement Contribution (2013)
When the PRC is in effect
The Additional Payroll Retirement Contribution (PRC) deduction starts with the September 2013 pay period and continues through the payrolls paid for the August 2015 payroll month.
How the PRC is paid
The PRC is paid using the:
Comptroller expenditure object:
7040 – Additional Payroll Retirement Contribution for Employees Retirement System Retirement Program
- Texas Identification Number (TIN) for the various retirement systems:
Vendor Name Vendor Number ERS-Payroll Retirement State Contribution 3-3273273277-028 ERS-LECOS Payroll Retirement State Contribution 3-3273273277-032 ERS-Return-to-Work (RTW) Payroll Retirement State Contribution 3-3273273277-033 ERS-LECOS RTW Payroll Retirement State Contribution 3-3273273277-034 ERS – Payroll Retirement State Contribution Elected State Officials 3-3273273277-035
State agencies must be aware that:
- The 0.5 percent payroll contribution is an addition to the state retirement match for each benefits-eligible employee.
- The PRC deduction must adjust for situations in which the employee receives partial pay.
When the PRC is paid
Agency employees paid monthly
The PRC is due the first of the month for employees paid monthly.
Agency employees paid twice-monthly
For twice-monthly paid employees at state agencies, the agency-paid portion of retirement contributions are paid to ERS with each payroll:
- The PRC is calculated on actual base salary (BSY) for the first half of the month (paid on the 15th of the month) and is from the agency budget as an addition to the state paid amount.
- The PRC is calculated again on actual BSY for the second half of the month (paid on the first of the following month because of the need to know the total amount of base salary for the month).