Wires must settle no later than Monday, July 31, 2023. If submitting a payment using this method for the first time, email CalPERS FCSD Cashiers, prior to your payment settlement to ensure timely processing. *See note above about July 1, 2023, bank vendor change AddressĮFT credit payments must settle no later than Monday, July 31, 2023. ![]() Using your own financial institution payment system, send payments to the following: Bank Name Payments should be set up no later than Thursday, July 27, 2023, with a settlement date no later than Monday, July 31, 2023. More information can be found in the previously distributed EFT Union Bank Vendor Change Circular Letter.įor lump-sum payments, enter the amount of the prepayment manually. If you don’t notify your bank of this change, your payment may be rejected if your account has existing blocks that require your approval to change. Bank, our new vendor beginning July 1, 2023. If you use m圜alPERS to send electronic funds transfer (EFT) payments to CalPERS, you need to notify your bank of the switch to U.S. Be Prepared: We Switched our EFT Bank Vendor to U.S. Payments should be made using one of the below methods. Lump-sum UAL prepayments must be received and posted by CalPERS no later than July 31, 2023, or m圜alPERS will automatically set up a 12-month payment plan. Your UAL receivables for FY 2023-24 are available in m圜alPERS starting July 1, 2023. The annual UAL prepayment amount is found on page 4 under required contributions, or you can contact your assigned actuary. You can view your agency’s most recent actuarial valuation report on the CalPERS website. There are two ways to find your lump-sum prepayment amount. This incentive is exclusive to the month of July. We want to make sure you are aware of this payment option. Last year, nearly 80% of contracting agencies made a UAL lump-sum prepayment. When your contributions are invested early in the fiscal year it may provide a greater potential of maximizing investment returns throughout the remainder of the year. If you make a lump-sum prepayment of your annual UAL in July, we will discount your annual payment by 3.4% interest. We want to make sure you are aware of this cost-saving payment option available to all CalPERS contracting agencies. ![]() Save 3.4% Interest by Prepaying Annual UAL in July ![]() The purpose of this Circular Letter is to announce the July 2023 receivables window to make a lump-sum prepayment of your required monthly unfunded accrued liability (UAL) and instructions on accepted payment methods. To: All Contracting Public Agencies Purpose
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