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Greetings from LSERS

Welcome to the February Edition of LSERS Employer eNews, enclosed in this issue is the notice of employer contribution rate and frequently asked questions about 1099R Box 5. There is also an interesting article on the best way to access forms on our website. I encourage you to contact our knowledgeable staff to assist you with any questions or concerns.

-Charles P. Bujol

 

PRSAC Has Approved Employer Contribution Rate for FY2019-20

On January 9, 2019, the Public Retirement Systems’ Actuarial Committee (PRSAC) approved the Louisiana School Employees’ Retirement System (LSERS) June 30, 2018 actuarial valuation. That means that the following changes have now received final approval:
  • Employer contribution rate: 29.4% effective July 1, 2019 (1.4% increase from 2018-19)
  • Employee contribution rate:  No change; by statute this rate will remain at:
    • 7.5% for members whose first state service before July 1, 2010; and
    • 8.0% for members whose first state service on or after July 1, 2010.
Click here for a copy of the signed memo to Superintendents, Directors, Business Managers, Human Resource Directors, and IT Directors of all LSERS Reporting Agencies.
Questions? Please contact Chenfei Zhou, LSERS Assistant Director, at 225.925.6492 or czhou@lsers.net.

Authorized Employer Contacts – Are They Up to Date?

LSERS keeps a list of each of our employers’ contact personnel so we can quickly contact the right person when we have issues with exceptions, salary uploads, or contribution payment transmittals.  To update or add your authorized contacts,  please complete Form 1 – Authorized Signatures and Employer Contacts. 
Then, email that completed form to LSERS at webmaster@lsers.net, or fax to 225.922.1001. To remove an authorized user, please send an email to the same email address. 

Please refer to the Employer Access Updates procedure for more details.

Thanks for helping to ensure your contacts information is up to date. If you should have any questions, please contact Laurie Stark at 225.925.4890 or lstark@lsers.net.

Troubleshooting - LSERS Online Forms

Do you get a “Please wait…” message when trying to access forms on www.lsers.net?  If so, please check the internet browser you are using.  Google Chrome is not very compatible with LSERS online forms, so please try accessing them in Internet Explorer or Microsoft Edge.  If you are still having trouble after trying those browsers, please contact LSERS IT Tech Support at 225.925.7750 or support@lsers.net for assistance. 

1099-R FAQ - Box 5

The amount in Box 5 of the 1099-R represents the tax-free portion of retirement benefits the retiree received during the calendar year; it is NOT the amount of the member’s insurance premium.  The tax-free portion is based upon unsheltered contributions contributed to LSERS by the member before July 1, 1994.  Questions?  Contact Melinda Carson at 225.925.6491 or mcarson@lsers.net.

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.