OSPS E-News ~ Oregon College Savings Plan - bank changes

[Announcements from OSPS to the users of the Oregon State Payroll Application]

Payroll professionals,

The following is a message from Oregon State Treasury regarding a banking change coming up for the Oregon College Savings Plan.
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Oregon State Treasury's Oregon College Savings Plan will be changing banking institutions.  Attached you will find a new payroll deduction guide, form and message that went to employees.

Employees who wish to continue to keep their payroll deduction active should use the attached guide and form to update their information.  Any employee currently setup with an OCSP account will have their deposit reject for the September pay period.  Employees should submit a new form to their payroll office.

For information on the change to the program manager or basic information on the payroll deduction process, please reach out to Oregon.College at ost.state.or.us<mailto:Oregon.College at ost.state.or.us> or call 503-373-1903.

For detailed information on the new payroll deduction process please call 866-772-8486 on or after September 10th.
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DAS OSPS has pulled a query of employees we believe to have an OCSP account and sent that out to impacted agencies last week.  It will be important to reach out and let employees know they need to take action to continue their OCSP deposit.  On page 3 of the OCSP Payroll Deduction Guide under 'Employer Responsibilities' it walks through the ACH setup.  By following these steps payroll offices can update the P070 screen to keep the ACH from rejecting.  Any changes done should be entered in OSPA starting with the 09/30/18 pay period end date.

Payroll offices should be getting a new form from the employee before making changes.

New routing number - 011001234 - 9 digits
New plan identifier - 740705 - 6 digits
New account number - OS91234567890 - 13 digits...this will be a change from the guide as you can only enter 11 digits in OSPA.  All these numbers will be entered as one continuous number on the P070 in the 'ACH ACCT' field.  Please take the following action.


1)      Do not use the letters 'OS' when entering the account number.

2)      Use all 11 digits for an account number.

a.       If the person has an existing account setup on the P070 the account number will be the same going forward unless it is less than 11 digits.

b.      If the account number has less than 11 digits then put lead in zeroes to reach 11 digits.  For example - Joe Smith has account number 123456789 currently setup.  Then you would enter 00123456789 starting in September.

If you have questions about this change then please reach out to the Help Desk...(osps.help at oregon.gov<mailto:osps.help at oregon.gov> or phone 503-378-6777,0).

Thanks,

Seth Lewis
Manager
DAS/EGS/FBS/Oregon Statewide Payroll Services
503-373-0198, direct
503-378-3518, fax
503-378-6777, OSPS Help Desk
seth.lewis at oregon.gov<mailto:seth.lewis at oregon.gov>
Visit Our Online Resource Center:  State of Oregon: Oregon Statewide Payroll Services<http://www.oregon.gov/das/Financial/Payroll/Pages/Index.aspx>
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