 Greetings from LSERS
Welcome to the May Edition of LSERS’ Employer eNews. Enclosed in this issue is information regarding Fiscal Year End information and deadlines and Retirement Annual Salary reporting, I encourage you to please contact our knowledgeable staff to assist with any questions or concerns.
--Charles P. Bujol |
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2017-18 Fiscal Year End Reminder and Reporting Deadlines
FY 2017-18 year end is approaching. Now is a great time for review and monitoring of your Member Salary Contribution Report, Contribution Exception Report, Retiree RTW Earnings Exception Report and Member Status Report by Employer. July 16 is the deadline to submit monthly salary & contribution reporting and July 24 is the deadline to clear all exceptions. Changes to salary or contributions for FY 2017-18 made after July 24 will require a Prior Year Correction of Earnings and Contributions – Form 4P. Kim Stewart at kstewart@lsers.net or 225.925.4411, will also be available to assist in accomplishing a smooth close-out. Be on the lookout for future LSERS emails on this topic.
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 Part-time and Substitute Positions – Enrollment and Reportable Earnings
The definition of earnable compensation in La. R.S. 11:1002 (12) is the full amount earned by an employee for a given pay period. All monies paid to an LSERS member for services in positions eligible for LSERS must be reported as earnable compensation. For example, if a full-time bus operator is also working part-time or substituting in your maintenance department, both bus operator earnings and maintenance earnings must be reported to LSERS.
Also, employers must enroll and report earnings on part-time or substitute work in LSERS-eligible positions for employees who have ten or more years of service credit in LSERS. These positions include school bus operator, school janitor, school custodian, school maintenance employee, school bus aide, monitor or attendant, as well as any other regular school employee who works on a school bus helping with the transportation of students.
If you have any questions, please contact Chenfei Zhou at czhou@lsers.net or 225.925.6492 |
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Reporting exceptions for March showed a downward trend!
Kudos to you! March exceptions decreased by 16% from February. Please keep up the good work! We look forward to maintaining this downward trend as the end of FY 2017-18 approaches! If you need any assistance with clearing exceptions, please contact Kim Stewart, kstewart@lsers.net or 225.925.4411. |
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Retirement Annual Salary (RET) File – Deadline to Submit is August 15, 2018
Each school board and charter school must submit to LSERS an annual retirement salary file for the fiscal year ending June 30, 2018. The salary file should include annual earnings of each person paid by the employer. Please note: for bus operators, please do not include the payments for reimbursement of operating expenses, as those expenses are not subject to retirement contributions.
Please submit the fixed-length text file on or before August 15, 2018 through our LSERSWeb portal. Please refer to the procedures for uploading the file on the web: Salary, Insurance & Retirement Uploads - Retirement. The naming convention for the file should be: RETnnnn_2018 (“nnnn” is your employer identification number). If you have any questions, please contact LaQuinta Jordan, LSERS’ Internal Auditor, at 225.925.7492 or via email ljordan@lsers.net. |
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Fact Sheet Updates
Fact Sheet 1 – Overview and Contacts has been updated to reflect our new Ex-Officio member of the LSERS Board of Trustees, Kyle Ardoin, Secretary of State.
Fact Sheet 6 – Purchase of Credit has been revised to remove the option of paying for Non-USERRA Military purchases in installments. The Form 9A associated with this process has not changed.
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