Employer E-News Archives — 2015
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- The NEW Retirement Online
- February Estimate Coming Soon
- New Consultation Site Schedule Online
- Online GASB Program Coming in July
Tier 5 & 6 Overtime Limits The overtime limit for Employees’ Retirement System (ERS) Tier 5 members is $17,389.11 for calendar year 2015. The ERS Tier 6 overtime limit is based on the State fiscal year, and is $15,608.00 for the fiscal year ending March 31, 2016. Police and Fire Retirement System (PFRS) Tier 5 and 6 members also have an overtime cap of 15 percent of their regular salary for calendar year 2015. Please email our Employer Services Bureau if you have any questions.
Check Membership Status When Hiring New Employees When hiring a new employee, make sure he or she isn’t already a member of the Retirement System. Members can leave public employment for a time, but unless they terminate their Retirement System membership, their membership is still active. This means they aren’t able to opt out of membership when they start new employment with you, and will need to make their required contributions. You’ll also need to include their information on your monthly report. If you need to check the membership status of a new employee, please call us via our automated phone line at 1-866-805-0990; press “5” for the Employer Menu, then “2” for Member Registration, followed by “1” to confirm an employee’s membership.
Salary Listing and Prior Years’ Adjustments Coming Soon The salary listings and prior years’ adjustments for the fiscal year ending (FYE) March 31, 2014 will be replaced with the listings for FYE 2015 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 Retirement & Social Security Law (RSSL) Section 217. The PRR program enables employers to report all public retirees on their 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.
World Trade Center Notice Extended The deadline to file a World Trade Center Notice for people involved in the rescue, recovery or cleanup efforts in the wake of 9/11 has been extended to September 11, 2015. If you have employees who may need to file, please refer them to our World Trade Center Presumption publication.
Member Annual Statements Coming Soon We’ll start mailing Member Annual Statements (MAS) to you in mid-to-late May (starting with school districts). Due to the large number of statements involved, the distribution process takes approximately six weeks to complete. If you don’t receive statements for your employees by the end of June, please contact us.
You Should Know: The Post-Retirement Reporting (PRR) program allows school districts and BOCES to comply electronically with the reporting requirements of Retirement & Social Security Law (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 The Variable Contribution Rate (VCR) application has been updated for State fiscal year 2016 (April 1, 2015 – March 31, 2016). This application provides non-State employers with the contribution rates for their Tier 6 employees. This year, there is a new column for Tier 6 members whose rates will be based on earnings from two years ago. For fiscal year 2016, this “two-year look back” applies to members who joined during fiscal year 2013. The contribution rates for members who joined less than three years ago will still be based on the annual salary you provided to us on their membership applications. Please review the rates for your Tier 6 employees so the correct contributions are withheld for them.
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.
You Should Know: By participating in the Retiring Employees Acknowledgment 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.
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 9 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.
Partial Lump Sum Payments — Now Available for Certain County Positions Sheriffs, undersheriffs, deputy sheriffs and correction officers who file for service retirement are now eligible for partial lump sum (PLS) payments if they are covered by a plan that allows for retirement after 20 or 25 years of creditable service (regardless of age), but only if their employer adopts a resolution to offer this option. Please refer your employees to our PLS publication if they have questions.
New Consultation Site Schedule Online The January – June 2015 Consultation Site Schedule is now available on our website. Be sure to let your employees know about these new dates so they can schedule appointments with us accordingly.
You Should Know: The Annual Employer Invoice application allows you to view your most recent invoice safely and securely online. The application shows you the amount of contributions owed for the upcoming State Fiscal Year. If you haven’t already signed up, take a few minutes to learn about the program.