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Next, the total surcharge amount is calculated. If the employee has worked at least 120 days, then the surcharge is equal to 14% of the difference between the calculated earnings and the minimum compensation level. For example, an employee works 125 days and has calculated earnings of $5,000. The minimum compensation amount is determined by SERS. For FY2023FY2024, the surcharge amount is $25$30,000. For current Surcharge amount, please go to https://www.ohsers.org/employers/annual-processes/surcharge/. Districts can also contact SERS for the current rate or reference the SERS Employer Manual. The surcharge is calculated as follows:
($25$30,000 - $5,000) X 14If 14 % = $2$25,800000.00
If the employee works less than 120 days, the surcharge is prorated based on 180 days and the total surcharge for the employee becomes a percentage of the gross surcharge. For example, an employee works 50 days and has calculated earnings of $5000.
The surcharge is calculated as follows:
First calculate the gross surcharge as if the employee worked over 120 days.
($25$30,000.00 - earnings from report) X 14% = $2,800.00
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