Long Term Disability/ MSRS Contribution Increase
Employees participating in the Hartford’s Long-term disability plan will see a little extra money in your paychecks over the remainder of 2009. Beginning with the July 2 paycheck, long-term disability premiums will be reduced by 10%. In addition, there will be a rebate of premium reductions from the first six months of this year. This refund will appear on your July 31 paycheck. The reason for this good news is that the long-term disability plans performed much better than expected in 2007 and 2008—fewer claims and shorter claim periods.
MSRS
Effective with the July 31 paycheck, employee and employer contributions to MSRS will increase from 4.5% to 4.75%. The final planned increase (to 5%) will occur in July 2010.
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