The Division of Retirement and Benefits Employer Conference held in November was a great success. Nearly 70 participants attended the event.
Some highlights of the conference included:
The conference also presented attendees with a variety of opportunities to network and share information. A dinner held on the first night of the conference was well attended by participants and offered an opportunity for Division staff and employers to connect in a relaxed atmosphere.
Employer Manuals distributed at the conference were well received. If you were not able to attend or need to print another copy, download them now, from the DRB Web site.
All presentations from the conference are still available for you to review on the Division Web site.
The Employers’ Edge Newsletter is loaded with important information for employers. We challenge you to send it to all of the staff in your office this month. If you receive Employers’ Edge as a forward from a colleague, you can sign up to have it sent directly to your inbox. Just send us your name, email address, title and organization name via email and we will add you to the list to receive future publications.
Depending on who you talk with, Tier can mean several things.
At the 2011 Employer Conference, Sondra Meredith from the Department of Education and Early Development (DEED) informed us that when DEED talks about a teacher’s certification they describe it in terms of a tier status. The requirements for a teacher to be certified under an initial certification falls under a “Tier I” status. The requirements for a teacher to be certified under a professional certification falls under a “Tier II” status.
This is not to be confused with a teacher’s tier status in the Teachers’ Retirement System (TRS). When the Division of Retirement and Benefits speaks to a member's tier they are referring to when the member first entered the system and were first eligible to begin making contributions to the TRS. Retirement benefits are determined by the member's tier status. Members in TRS are in Tier I if they were first hired prior to July 1, 1990, Tier II if they entered TRS on or after July 1, 1990 and in Tier III if they entered TRS on or after July 1, 2006.
The Alaska Retirement Management Board (ARMB) has established Fiscal Year 2013 (FY13) employer contribution rates for the PERS/TRS Defined Benefit (DB) and Defined Contribution Retirement (DCR) Plans.
The Division will be sending rate letters to each employer electronically, as we did with FY12 rates. Letters will be sent in April 2012 when the HRA rates are available and rates will be effective for pay period end dates between July 1, 2012 and June 30, 2013.
For additional information regarding the actuarial determined rates, please refer to the June 30, 2010 PERS and TRS actuarial valuations which determined the fiscal year 2013 rates:
If you have questions about employer contribution rates, please email Christina Maiquis or call (907) 465-1845.