Employer Conference coming to Juneau this fall
November 14-16, 2011
The Division of Retirement and Benefits is organizing an Employer Conference to be held this fall, November 14-16, 2011, at Centennial Hall in Juneau. This will be an 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. The agenda has not yet been finalized, but a few of the featured training sessions will include:
- E-Reporting walk through with PERS/TRS accounting contacts
- Termination costs, when applicable
- The process and effects of amending the PERS Participation Agreement
- New benefit education developments (Will include a demonstration of using WebEx for individual and group meetings.)
- Value to the employer of employee benefit education (Introduction to all the benefit education staff and services provided.)
- Internal Revenue Service issues
- Social Security issues
Please tell us what additional topics you would like included in the training sessions. Send your requests and suggestions to Deputy Director Kathy Lea at email@example.com.
Employer rate letters sent electronically
You should have received the employer contribution rate notice via email on June 14, with a link to an Adobe Acrobat (pdf) of the employer rate letter. You may print an Adobe Acrobat (pdf) version of the employer rate letter for your records on state of Alaska letterhead. You can also save this electronic pdf file for your records.
Alaska Retirement Management Board meets in Anchorage June 16-17
The next regular meeting of the Alaska Retirement Management Board (ARMB) will be June 16-17 in Anchorage at the Dena’Ina Convention Center in the Board Room. The public is invited to attend.
An agenda will be available before the meeting here where you may also view minutes from past ARMB meetings. For questions about the ARMB, contact the board liaison, Judy Hall, in the Treasury Division, Department of Revenue.
Using PERS and TRS employer on-behalf funding for Fiscal Year 2011
The Division of Retirement and Benefits will apply Fiscal Year 2011 PERS and TRS employer on-behalf funding, provided in House Bill 300 (Operating Budget – Section 29), to payrolls received in our office by July 15, 2011. Fiscal year 2011 covers payrolls containing payroll end dates from July 1, 2010, to June 30, 2011.
After the July 15, 2011, cutoff has been reached and all applicable payrolls have been processed, the division will complete the annual on-behalf funding true-up. We anticipate sending employer on-behalf year-end statements to include the true-up by the end of July 2012.
For PERS on-behalf funding questions or statement copies, please contact Keith Hermann at (907) 465-2279 or via email at Keith.Hermann@alaska.gov. For TRS on-behalf funding questions or statement copies, please contact Walter Agne at (907) 465-5711 or via email at Walter.Agne@alaska.gov.
If you have other questions, please contact Christina Maiquis at (907) 465-1845 or via email at Christina.Maiquis@alaska.gov.
Employer On-behalf funding for Fiscal Year 2012
On-behalf funding for PERS employers (previously referred to as employer relief) for Fiscal Year 2012 (FY12) is provided by House Bill (HB) 108 (Operating Budget - Section 29), passed during the 2011 legislative session. The bill provides a set amount of funding to reduce the PERS Employer Effective Rate to 22 percent and the TRS Employer Effective Rate to 12.56 percent for FY12. The bill has been transmitted to the governor and is awaiting signature.
This funding is applied with the processing of each employer payroll. Employer on-behalf funding statements will be sent via email to payroll and finance contacts. For PERS on-behalf funding questions or statement copies, please contact Keith Hermann at (907) 465-2279 or via email at Keith.Hermann@alaska.gov. For TRS on-behalf funding questions or statement copies, please contact Walter Agne at (907) 465-5711 or via email at Walter.Agne@alaska.gov.
For PERS and TRS employer on-behalf funding provided in HB108, the Division of Retirement and Benefits will apply payments for payrolls through pay period end date June 30, 2012. Fiscal year 2012 (July 1, 2011 to June 30, 2012) payrolls must be received in our office by July 15, 2012, to be processed with HB 108 employer on-behalf funding.
For other questions, please contact Christina Maiquis at (907) 465-1845 or via email at Christina.Maiquis@alaska.gov.
Send us service verifications for teachers, please
This is a reminder that if you have requests for service verifications from retiring teachers, please send them to us as soon as possible if you haven't already done so. Delays in sending verifications to us result in late retirement payments to teachers. The retiring teachers and division staff thank you!
Remember - submit Alternate Option change form for eligible school employees
Remember to submit a change form for the Alternate Option when an employee is eligible. This is extremely important. Employees are eligible to change their election only from July 1 through September 30 of each year. If they do not change their election (if eligible) during this time period, they will need to wait until the following year. See the definitions below to ensure your employees are correctly enrolled in the Alternate Option:
New Hire - Someone who was not working for a school district on July 1, 1999, or someone who first became a member on or after July 1, 1999, may, within 90 days of date of hire, make an election. AS 39.35.300 (c) and AS 39.35.310 (c).
Re-employed - Someone who was working for a school district, who was inactive on July 1, 1999, and later reemployed, may, within 90 days of date of hire, make an election. AS 39.35.300 (c) and AS 39.35.310 (c).
Change in Status - You may make an election during the period July 1 through September 30 if your position went from working 12 months to less than 12 months. AS 39.35.300(e) and AS 39.35.310 (e).
You may make an election during the period July 1 through September 30 if your position went from working less than 12 months to 12 months. AS 39.35.300 (d) and AS 39.35.310 (d).
PERS and TRS Employer Manuals available online
The PERS and TRS employer manuals are available on our website site.
The manuals are intended as a resource guide to help employers with questions they may have about the retirement systems. The manuals cover both the PERS and TRS Defined Benefit plans and the Defined Contribution Retirement Plan, which was established on July 1, 2006, and address participation agreements, payment of contributions, member plan education, beneficiary designations and much more.
Each manual has been posted as a PDF on the Division website site.
To navigate to the Employer Manuals from the Employer Services web page, click on the "Resources" drop-down menu and then "Employer Manuals."
PERS and TRS publications available online
The following PERS and TRS publications are available at the "Publications" link (under the "Resources" menu) on the Division of Retirement and Benefits website:
To navigate to any Division reports, follow these steps:
- Go to the Division's website at alaska.gov/drb
- Under the "Resources" drop-down menu, click on "Publications"
- Click on the appropriate system, plan or fund.
- Select the report you want to view.
If you prefer a hard copy of these reports, please contact the Division of Retirement and Benefits at
Updated Forms and Brochures
The following forms and brochures have been updated since the last newsletter. Please be sure to use only the updated forms. Printing from the Forms & Brochures page on the Division website will assure you always have the most current version.
||No forms have been updated since the May 2011 Employers' Edge