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Greetings from LSERS

Welcome to the January Edition of LSERS Employer eNews, enclosed in this issue is information on 1099-R mail out and upcoming office closures.  On behalf of LSERS’ Have a Happy New Year.  I encourage you to contact our knowledgeable staff to assist you with any questions or concerns. 

-Charles P. Bujol

Refund Process Improved for 2019

Starting in January, LSERS will begin issuing refunds checks every other Wednesday. The first issue under the new schedule will be Wednesday, January 2, 2019. However, employers still cannot certify the Form 7 - Application for Refund, until 90 days after the employee’s last day of employment.

To minimize delays, please let LSERS know of a pending refund, in case additional forms are needed to finalize processing. If a refunding member has ten years of service credit (whose 1st State service date is on or after 7/1/2010), we require a Form 7A to record the member’s choice to either refund or vest.  This form also contains a spousal consent. 

Please contact Kimberly Stephens, 225-922-0220 or kstephens@lsers.net,  with questions.

It’s tax time again!

1099-R for 2018 will be mailed in January 2019. The forms will be available through online access, by clicking as follows on our website:
View Personal Information > 1099-R > Download Letter next to year 2018 to view/print 
Gross Box 1 = Taxable Box 2a + Tax Free Box 5*
(IF ANY)
*Tax-free portion of retirement benefits the member received during the calendar year.  This is NOT the amount of the member’s insurance premium.  It represents unsheltered contributions withheld from the member’s salary before July 1, 1994 that have already been taxed.
Reminder: LSERS retirement benefits are not subject to Louisiana state income tax for a Louisiana resident filing a Louisiana income tax return.
If an LSERS benefit recipient does not receive the form by February 4, 2019, a copy of the form can be printed through online access, or call 225.925.6484, or toll free at 1.800.256.3718, or email LSERS at webmaster@lsers.net  for assistance. 

LSERS is NOT affiliated with any personal financial service consultants!

We have recently been made aware of various firms contacting our retirees for an appointment to discuss their finances and stating that LSERS sent them.  THIS IS NOT TRUE!  Please help us preserve the integrity and security of our retirees’ personal interests by sharing this information with any other LSERS benefit recipients you know.

Reminder: Exception Reports

Let’s start the New Year with “No Exceptions”!  Now is a great time for clearing all exceptions from July through December.  Taking care of any uncleared exceptions now would mean less work later. Kim Stewart at kstewart@lsers.net, or 225.925.4411, will be available to assist with any questions you may have so you can start 2019 with a clean slate.

Holiday Office Closures

Our office will be closed on the following days:

Monday, December 31st – New Year’s Eve
Tuesday, January 1st – New Year’s Day                                               Monday, January 21st – Martin Luther King Jr. Day

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 © 2018 Louisiana School Employees' Retirement System, All rights reserved.