Invalid Social Security numbers cause problems
Have you ever submitted an invalid Social Security number (SSN) to the Division due to a delay in obtaining a new employee's valid SSN? It is imperative to not introduce invalid/incorrect SSNs into our system. Invalid SSNs cause a myriad of problems, including our inability to transfer contributions to Great West and to report any refunds to the Internal Revenue Service.
If you have a situation where you have taken contributions, but you have not yet obtained the employee's SSN, please discuss this with your DRB employer contact and hold submission until you have a valid SSN.
Do you participate in Open Enrollment?
Open Enrollment is May 12 - June 10, 2011 for Optional Benefits
Are you an employer that participates in the state's Optional Benefits Plan administered by the Division of Retirement and Benefits? If so, remind your employees that Open Enrollment is happening now and continues through June 10, 2011.
Open Enrollment is the time for employees to review their current Optional Benefit elections and make changes for the upcoming benefit year, beginning July 1, 2011.
Direct your employees to our Open Enrollment web page to learn more.
Here is a list of participating employers:
- Baranof Island Housing Authority
- City of Egegik
- City of Saint Paul
- City of Sitka
- City of Wasilla
- City of Wrangell
- Cook Inlet Housing Authority
- Copper River Basin Reg. Housing Authority
- Denali Borough
- Denali School District
- Haines Borough
- Inter-Island Ferry Authority
- Lake & Peninsula Borough
- Mat-Su Borough
- Mat-Su School District
- Sitka Hospital
- Sitka School District
- Special Education Service Agency
- State of Alaska
- Wrangell Medical Center
- Wrangell Public School District
Employee Benefits Fairs come to Juneau, Anchorage, and Fairbanks in May
The Division of Retirement and Benefits will hold Benefits Fairs in Juneau, Anchorage and Fairbanks the week of May 23. These fairs are a great opportunity for employees to learn about their benefits and how to plan now for their future retirement security; they are also a chance to get Open Enrollment questions answered. Please encourage your employees to attend a Benefits Fair.
See the Employee Benefits Fair link for more information, including seminar schedules and descriptions.
In addition to sessions on the AlaskaCare Employee Health Plan, there will also be seminars on Optional Benefits (formerly Supplemental Benefits), the Supplemental Annuity and Deferred Compensation Plans, and financial planning.
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.
FY 2012 Health Reimbursement Arrangement amounts now available
Health Reimbursement Arrangement (HRA) amounts have been updated on the Employer Contribution Rates web page for fiscal year 2012. Once at the web page, click on the "HRA Amts - DBUL Calc" link in the box near the top of the page to see the amounts.
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.