Expense Distribution for December 2011 OASDI Employer Contribution

1/10/2012

The Payroll Expense Distribution Reports (PPP5302) for December 2011 earnings will be available in PageCenter later today.  Please note that the employer portion of the OASDI expenses for the December 2011 MO cycle in this report are overstated.  Adjustments to correct the overstatement will be reflected in the Expense Distribution Reports for January pay which are distributed in early February.

This overstatement only affects the employer portion of OASDI and not employee pay. As previously announced, the employee portion of OASDI withheld in the December 2011 MO cycle was processed using the 6.2% rate before Congress took action to continue the 4.2% rate. Affected employees will see a retroactive adjustment to the 4.2% rate in their next paycheck. 

If you have any questions, please contact Central Payroll.