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Greetings from LSERS

We would like to wish everyone an excellent start to the new School Year.  This issue includes important information on the Annual Privatization Questionnaire and the FY 2019-20 Salary Contribution reporting. I encourage you to contact our knowledgeable staff to assist you with any questions or concerns.

-Charles P. Bujol

FY2019-20 Has Arrived!

A great big THANK YOU to all employers for your efforts to resolve all exceptions; achieving another successful fiscal year-end closing!

We now welcome the new fiscal year 2019-20. The Salary Contributions Reporting form will open tomorrow, August 1.  Remember – effective July 1, 2019, the employer contribution rate increased slightly, to 29.4%. The member contribution rate remains at 7.5%, or 8% if the member’s first state service was on or after July 1, 2010.

This time of year is a great opportunity to ensure that your Employer Information, Employer Access, and Authorized Access Levels are accurate. Need assistance? Please contact Laurie Stark at 225.925.4890, or lstark@lsers.net.

Retirement Annual Salary (RET) File – Due August 15, 2019

Reminder: For each fiscal year ending June 30, all school systems must submit to LSERS a retirement salary (RET) file. The current annual RET submission is due August 15, 2019. The uploaded salary file should reflect employees who are LSERS members, and the related annual earnings on which retirement contributions were paid. The data file layout can be located here on page 7.

To maximize the efficiency of defining valid discrepancies, please do not include bus operator operating expense reimbursements as part of an employee’s salary, as state law prohibits retirement contributions on those expense reimbursements.
Questions?  Please contact LSERS’ Internal Auditor, LaQuinta Jordan, at 225.925.7492 or ljordan@lsers.net.
 

REMINDER:  Annual Privatization Questionnaire (APQ) Due 10/1/19

All school systems must complete the LSERS APQ for each fiscal year ending June 30. The APQ is now available online, and must be returned to LSERS on or before October 1, 2019 for FYE 6/30/2019.  For more information about privatization, please see Fact Sheet 22 – Consequences of Privatizing LSERS Positions. LSERS’ Internal Auditor, LaQuinta Jordan, will be happy to answer any questions. She can be contacted at 225.925.7492 or ljordan@lsers.net.

You may notice that this year’s APQ memo has slightly changed. This is because you no longer need to reach out to us for an estimate of the privatization cost when contemplating privatization. LSERS has launched a new Privatization Estimates calculator located under your Employer Access. This calculator will provide the estimated cost of any potential privatized positions. Remember, any officially privatized positions must be reported to LSERS! LSERS will furnish you an Official Unfunded Accrued Liability cost invoice provided by our actuary based upon your reporting. Please contact Ms. Jordan if you need further information.

Updated Forms on www.lsers.net

Please ensure you are using the most current version of each form from our website to avoid any delay caused by an outdated form. LSERS regularly updates our online printable forms. These updates may reflect recent legislation and/or internal processing changes. Please go to www.lsers.net > Resources > Forms for a complete list.

And, as always, we appreciate and welcome any and all comments, as this helps
us identify ways to make improvements for you and provide better service to our
members and employers. Feel free to provide feedback and suggestions using
the LSERS Satisfaction Survey on our "Contact Us" page on the LSERS website.

Copyright © 2019 Louisiana School Employees' Retirement System, All rights reserved.