GAO 70A Overpayment Worksheet & GAO ACR updated

The GAO 70A Overpayment Worksheet and GAO ACR have been modified as of July 1, 2014 and posted to the GAO website located here: /publications/forms
Please download and save the new version and discard all prior versions.

Modifications to the GAO70A worksheet include:

  • Updated Retirement rates for FY15 and subtraction of FY10 rates.
  • Updated Supplemental Benefit rates for FY15.
  • Updated Alternate Contribution Rates (ACR) for FY15.
  • SUTA Rate Change: Deduction code T202 will calculate .10% for payment dates of 7/1/14 and forward. Payments prior to 7/1/14, use .15%.
  • Cell Format: For current calendar year form (2014), when “Full Cancelation” is selected, conditional formatting will gray entry cells to discourage entry due to rounding issues.

The ASRS ACR increased from 9.2% to 9.57% effective July 1, 2014. The GAO ACR has been modified and posted to the GAO website. Please download and save the new version and begin using the new template immediately to report these transactions. For more information about the ASRS ACR, see GAO Technical Bulletin 12-03 and 12-03S, “ASRS Alternate Contributions - Reemployed and Contracted Retirees”.

If you have any questions, please contact Sam Tekien at [email protected].

 

Author
Tracey Cappuccio
Date