Employers' Edge | Division of Retirement and Benefits, Department of Administration, State of Alaska

Conference Registration Opens in September

Draft Agenda Now Available

The Division of Retirement and Benefits Employer Conference is coming together for November 14-16 at Centennial Hall in Juneau. A draft agenda is now available for you to review. The conference is a great opportunity for your human resource, finance, payroll, and management staff to receive training on employer-related aspects of the Public Employees’ and Teachers’ Retirement Systems.

Some featured sessions include:

e-Reporting training for beginning users and demonstrations for advanced users
Termination costs, when are they required?
The role of Great West Financial Education Representatives
The Importance of Participant Benefit Education to employers
Social Security presentation

Conference registration begins in September so now is the time to start planning for the staff you would like to send along. If you have additional questions or comments regarding the conference, please contact Deputy Director Kathy Lea at kathy.lea@alaska.gov.

Upcoming Retirement Seminars

Throughout the year, the Division offers seminars to help educate employees about their defined benefit or defined contribution plans, the retirement process, and financial planning. Some of the upcoming seminars are listed below.

DCRP - Intro to DCR PERS Tier IV / TRS Tier III

An overview of the Defined Contribution Retirement Plan (PERS Tier IV and TRS Tier III) targeted at participants, supervisors, hiring managers, and line managers.

Juneau: Thursday, August 25, 2011, 1:30 - 3:30 p.m.; Thursday, October 6, 2011, 1:30 - 3:30 p.m.

PERS - The Retirement Process

A seminar for members who are interested in retirement eligibility, the retirement process, pension options, forms, timing of benefits and enrollment in the State of Alaska Retiree Health Insurance Plan.

Anchorage: Thursday, August 25, 2011, 1:00 – 3:30 p.m.; Thursday, September 29, 2011, 1:00 – 3:30 p.m.; Thursday, October 13, 2011, 1:00 - 3:30 p.m.
Juneau: Thursday, August 18, 2011, 1:00 – 3:30 p.m.; Thursday, September 22, 2011, 1:00 – 3:30 p.m.; Thursday, October 20, 2011, 1:30 - 3:30 p.m.

PERS - SBS/DCP

This seminar is an overview of the Supplemental Annuity Plan (SBS-AP) and the Alaska Deferred Compensation Plan (DCP). The DCP is available only to State employees.

Juneau

Thursday, September 8, 2011, 1:00 – 3:30 p.m.

Thursday, October 13, 2011, 1:30 - 3:30 p.m.

Teachers' Retirement System (TRS)

Fairbanks: Tuesday, September 13, 2011, 6:00 - 7:30 p.m.; Thursday, September 29, 2011, 5:30 - 7:30 p.m.

State of Alaska policy allows employees to attend a Retirement & Benefits-sponsored seminar during their regularly scheduled workday and have the time counted as work time. Approval to be away from the work site must be secured from the supervisor in advance.

For more information on upcoming seminars, or to enroll, please go to the Division’s Seminar Web page. To navigate to our Seminar Web page from the Division home page, click on the “Counselors” drop-down menu and then “Seminars.”

Rehiring a Retired Teacher

Who Participated in the 1% Supplemental Plan

If you are rehiring a retired teacher who first joined the TRS before July 1, 1982, and elected to participate in the 1% Supplemental Contributions provision, supplemental contributions are required during the period of reemployment.

If the member does not desire to make supplemental contributions, they must execute a Waiver of Supplemental Contributions and file it with the administrator. Execution of the waiver does not forfeit the member’s entitlements earned during the period of prior employment once the member is reappointed to retirement.

For further information, please contact the Regional Counselor for your area.

Verifying PERS Service

For Non-Certificated Employees Electing the Alternate Option

Effective with the school year beginning July 1, 1999, non-certificated employees of a school district who work less than 12 months in a full or part time position can elect to have their PERS service credit calculated under the TRS (AS 14.25.220 (47)) definition of “year of service.”

A full year of membership credit is earned if the member works at least 172 school days between July 1 of one year and June 30 of the next year. If a member works 6 hours or more per day, the service is considered full-time.

Part-time eligibility to participate in the PERS is determined using PERS statutes. The member must be regularly scheduled to work a minimum of 15 hours per week. Part-time service under the alternate option is prorated against a 6 hour day, the PERS full-time equivalent.