State of California

  M E M O R A N D U M

  REFERENCE CODE:
  2001-047

  DATE:
  October 25, 2001

  TO:
  Accounting Officers
  Budget Officers
  Personnel Management Liaison

  FROM:
  Department of Personnel Administration
  Savings Plus Program

  SUBJECT:
  Part-Time, Seasonal, Temporary Employee Retirement Plan Fee 
  Increase

  CONTACT:
  Lura Franzella, Manager
  Savings Plus Program
  (916) 324-3214
  FAX: (916) 327-1885
  Email: LuraFranzella@dpa.ca.gov


  This memorandum is to notify you that effective July 1, 
  2001, the administrative fee for the Part-Time, Seasonal, 
  Temporary (PST) Employee retirement plan was increased from 
  $4.25 per contribution to $4.45 per contribution.  This 
  increase was necessary to offset the recordkeeping and 
  administrative costs associated with the PST program.  
  
  The retroactive fees for the months of July through 
  September will be assessed at the new rate in October.  We 
  apologize for any inconvenience caused by the increase in 
  PST administrative fees.  The Department is committed to 
  providing the best possible service at the lowest possible 
  cost.  We will continue to evaluate the PST administrative 
  fees and reduce costs whenever possible.
  
  If you have any additional questions, please feel free to 
  contact Ms. Lura Franzella at the telephone number 
  indicated above.  
  
  
  
  
  Karen Alejo, Program Administrator
  Savings Plus Program