Employer Survey Results, March 2015
Throughout the month of March, the Division of Retirement and Benefits conducted a survey of employers to help determine a reasonable cutoff date to request verifications of service and salaries based on employer-maintained employee records. The Division would like to decrease research work for employers by setting a date that recognizes when records are no longer available. We received a great response; 64 employers gave us their feedback, and we would like to thank all of the employers who participated in the survey. Here are the results:
What is the average time it takes you to complete a request for verification of service and salaries from the Division?
|Less than one week:||40.63%|
|10 business days:||15.63%|
|Month or more:||12.50%|
What are the top reasons it takes more than 10 business days to complete a verification of service or salaries?
|Records difficult to access:||33%|
|Press of other business:|| 22%|
|Takes time to access records:||19%|
|Records not available:||16%|
|Data is unreliable:||4%|
|Records in poor condition:||6%|
How many years do you retain employee payroll records?
|Less than 10 years:||18.75%|
|More than 30 years:||59.38%|
Do you retain records other than employee payroll records that would allow you to recreate service and salaries?
If your answer to the previous question was yes, how many years are these records retained?
|Less than 10 years:||15.34%|
|More than 30 years:||73.68%|
If online training sessions were held to teach how to complete verification of service and salary forms would you or a representative find it useful?
Pension Payments and retiree health insurance cannot begin until verifications of service are received. Would you be able to complete verifications of a targeted past year(s) 60-90 days in advance of the planned employee retirement date if the questions year(s) affected a member's eligibility for retirement?