Employer E-News Archives — 2014
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Remember to View Your Estimate The estimate of your February 2015 payment to the Retirement System is now available. You can view your estimate by logging in to our online Employer Estimate application. Please visit our Annual Employer Estimate page for more information.
Updates to GASB Presentation Links and Resources We’ve updated our presentation on Governmental Accounting Standards Board (GASB) statements and related information with some new links and resources you may find useful. If you have questions, please email us at NYSLRS_GASB@osc.state.ny.us.
You Should Know: The Retirement Adjustment Reporting (RAR) system allows you to submit online adjustments to your employees’ previously reported days worked, salary and contributions. In most cases, you won’t have to submit the paper adjustment report form to us. If you submit your monthly report online, you can use the RAR system. Please take a few minutes to learn about the program.
Additional GASB Information and Resources As we announced recently, the Governmental Accounting Standards Board (GASB) has introduced new guidelines for pension plans. We’ve added links to additional information and a glossary to the GASB information on our website. We hope you’ll find these resources useful as you prepare to comply with the new GASB standards relating to pension accounting and financial reporting for state and local governments.
February Estimate Coming Soon Your 2015 February estimate will be available in August. To view your estimate, you need to use our online Employer Estimate application, and have a username and password to enter. Contact our Employer Billing Unit if you don’t have a username or password.
You Should Know: The salary listing and prior years’ adjustments (PYA) report for the fiscal year ending March 31, 2014 are now available online. The PYA reflects adjustments made and posted through April 18, 2014. Visit our website and log on to your online programs to view these reports.
Reporting Days Worked for Part-Time Employees Make sure you report the days worked by your part-time employees accurately. Reporting inaccurate days worked for these employees can create issues when calculating retirement benefits. You can refresh your memory of how to calculate the days worked for part-time employees on pages 5-11 through 5-26 in our Employer’s Guide .
Salary Listing and Prior Years’ Adjustments Coming Soon The salary listings and prior years’ adjustments for the fiscal year ending March 31, 2013 will be replaced with the listings for FYE 2014 in June. Our Employer Billing unit will contact you with more information before these applications are made available.
You Should Know: The Post-Retirement Reporting (PRR) program allows school districts and BOCES to comply electronically with the reporting requirements of RSSL Section 217. The PRR program enables employers to report all public retirees on the payroll and to notify the Retirement System when a NYSLRS retiree exceeds the Section 212 earnings limit. Please take a few minutes to learn more about the program.
Get Your Retirement Resources Online We keep the most current versions of our forms and plan publications on our website. They are available for you to print or read whenever you need them. Be sure to let your employees know where they can find these valuable resources.
Change to Standard Work Day and Reporting Resolution Form We’ve updated our Standard Work Day and Reporting Resolution for Elected and Appointed Officials (RS2417-A) form to include the Affidavit of Posting. The Affidavit is no longer a seperate form. You can find RS2417-A, and other forms for reporting Elected and Appointed Officials, on our Forms page.
You Should Know: The Post-Retirement Reporting (PRR) program allows school districts and BOCES to comply electronically with the reporting requirements of RSSL Section 217. The PRR program enables employers to report all public retirees on the payroll online and to notify the Retirement System when a NYSLRS retiree exceeds the Section 212 earnings limit. Please take a few minutes to learn more about the program.
Variable Contribution Rates Now Available Non-State employers can log in to our Variable Contribution Rates online application to see the fiscal year 2015 rates for their Tier 6 employees. Remember to review these rates so you can ensure that your payroll system withholds the proper contribution amounts for these employees. State employers don’t need to use this application, as contribution information for their Tier 6 employees is updated automatically.
New Accounting Standards for the Retirement System & Our Employers New standards set by the Government Accounting Standards Board (GASB) will not affect how your contribution rates are calculated or how pensions are funded. However, the Retirement System will be following these standards. Visit our GASB presentation to learn more about them and when they take effect.
You Should Know: By participating in the Retiring Employees Acknowledgement Program (REAP), you can receive email notices of pending employee retirements and report final employee service, salary, and accrual information online. If you haven’t already signed up, take a few minutes to learn about the program.
Is Your Contact Information Up to Date? We send E-News and other important communications to designated contacts at your location. Is Retirement System information reaching the right people at your location? Email our Employer Services bureau any time you need to update your employer contact information.
Member Annual Statement Sorting Preference Between May and July, we send you Member Annual Statements to distribute to your employees. These will be sorted by registration number unless you request otherwise in your March monthly report. Refer to our February 7th email for more instructions. This alternative sorting service is not available for State agencies. Please email our Employer Services bureau if you have questions.
You Should Know: The Elected and Appointed Officials Reporting program (EAOR) lets you submit the Standard Work Day & Reporting Resolution and Affidavit of Posting online. This program is for non-State employers of elected and appointed officials. If you haven’t already signed up, take a few minutes to learn about the program.
Annual Invoice Reminder Remember to check your annual invoice online. The date to prepay at a discount has passed, so if you haven’t already submitted your payment, you will need to pay the full amount by February 1. Don’t forget — February 1 falls on a Saturday. Payments sent by certified mail with a postmark date on or before February 1 will be considered on time.
Read Employer Forum and Other Newsletters Online The current edition of Employer Forum is available on our website. This edition features articles on a fiduciary review of the Common Retirement Fund, how to calculate days worked for your elected and appointed officials and a new tax treatment for PFRS member contributions. Make sure your employees know they can find the current issues of The Update , our newsletter for active Employees’ Retirement System members, and The Sentinel , a newsletter for Police and Fire Retirement System members, online as well.
You Should Know The Retirement Adjustment Reporting (RAR) system allows you to submit online adjustments to your employees’ previously reported days worked, salary and contributions. In most cases, you won’t have to submit the paper adjustment report form to us. If you submit your monthly report online, you can use the RAR system. Please take a few minutes to learn about the program.