Greetings from LSERS
Welcome to the March Edition of LSERS’ Employer eNews, we wish you a Happy Easter. Enclosed in this issue is information on Refund payments and Fiscal year end deadlines. Also, please note our Holiday office closure for Good Friday. I encourage you to contact our knowledgeable staff to assist you with any questions or concerns.
- Charles P. Bujol, Executive Director |
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Updating your Authorized Contacts
LSERS keeps a list of each of our employers’ key contact personnel. This list lets LSERS quickly contact the correct person when we have alerts for any issue found for exceptions, salary uploads or contribution payment transmittals. Our ability to reach the right person saves all of us time. To update your authorized contacts, please complete Form 1 – Authorized Signatures and Employer Contacts, and then email it to LSERS at webmaster@lsers.net, or fax to 225.922.1001.
Thanks for helping to keep this information up to date. If you have any questions about how to complete the Form 1, please contact Laurie Stark at 225.925.4890, or lstark@lsers.net. |
Refund Payment Timeline
Please advise LSERS' members applying for a refund that they will receive their refund payment up to 120 days after their last day of employment.
Employers must hold Form 7 - Application for Refund of Member Contributions, for 90 days after last day of work before certifying and submitting the application to LSERS. This is a state law mandate.
To minimize delays in processing the refund application, employers should ensure member’s LSERS membership is terminated online, and any exception found in a member’s account is cleared before certifying and submitting the refund application.
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 Fiscal Year End Closing Deadlines
June 30 is approaching fast, so here are some deadlines you should be aware of as you start planning for year-end closing:
- Monday, July 16 – 2017-18 salary and contribution reporting and return-to-work retiree (RTW) earnings are due
- Tuesday, July 24 – Final date for submitting corrections to contribution exceptions and RTW earnings
- Wednesday, July 25 – Employer access to online reporting and corrections ends and any further corrections to FY 2017-18 must be submitted with a Form 4P.
For your convenience, here are the procedures for the two types of exception reports: Contribution Exception Report and Retiree RTW 1006 Earning Exception Report.
LSERS will adjust employer salary reportings for any remaining exceptions after the July 24 deadline. Please review your exception reports now to minimize the number of adjustments.
After July 24, all salary corrections will require Form 4P – Prior Year Correction of Earnings and Contributions to be submitted, and will be processed after July 31. Interest charges may apply.
If you need any assistance, please contact Kim Stewart at kstewart@lsers.net or 225.925.4411. |
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Retiree Return to Work
1006 Exceptions
Each month, LSERS receives requests from retiree return-to-work members (RTW), asking how much they can earn for the rest of the fiscal year. Since the accuracy of certifying the retirees’ allowable earnings depends on the correct reporting from the employer, it is very important employers report retirees’ earnings and clear any RTW exceptions monthly.
Currently, 17 employers are behind on reporting monthly earnings and contributions, and there are 254 exceptions. LSERS sends monthly emails to employers reminding them about outstanding exceptions and that exception reports are available online. For more information, please refer to these procedures: Retirees Return-to-Work Salary Reporting under Earning Limit and Retirees Return-to-Work 1006 Earnings Exception Report.
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Session Timeout
During the Employer Training held earlier this month at TRSL, an employer asked LSERS’ staff about why their computer session times out while using the online Salary Contributions Reporting and Corrections form. That was a good question. The form times out after 20 minutes of inactivity. If you have any more questions about this form timing out or other technical issues, please send an email to our LSERS’ IT technical support staff at webmaster@lsers.net. |
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Revised Form 4P
The Form 4P - Prior Year Correction of Earnings and Contributions has been updated. The revisions include space for an additional fiscal year update. The previous form only allowed for two updates. Also, we removed the verbiage pertaining to fax copies not being accepted. This form can be faxed, emailed, or mailed to our office. |
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Holiday Office Closure
Please be aware that our office will be closed on Friday, March 30, 2018, for Good Friday.
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