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Greetings from LSERS

Welcome to the May Edition of LSERS Employer eNews, we would like to wish you a Happy Memorial Day.  This issue includes excellent information on leave for Charter school employment and Fiscal Year-End deadlines. I encourage you to contact our knowledgeable staff to assist you with any questions or concerns.

-Charles P. Bujol

School Board Employees on Leave for Charter School Employment

Under La. R.S. 17:3997A(3)(a), charter school employees’ participation in LSERS is governed by the specific provisions in the school’s charter document. However, state law also allows a local school board employee, who wishes to be employed by a charter school, to take a leave of absence from the local school board to do so for a period up to three years.

Per statute, if your school board has such an employee, that employee shall continue to contribute to LSERS. State law further states, if such an employee returns to active employment with the local school board, that employee does not lose any right of retirement to which she or he would have been entitled had the employee not taken this leave of absence.

More information about charter schools may be found at the state Department of Education’s website, www.louisianabelieves.com/schools/charter-schools.

If you have a question about membership in LSERS for a current charter school employee, please contact Tracy Gaudet at 225.925.6922 or tgaudet@lsers.net;  however, we are unable to provide guidance regarding the administration of La. R.S. 17:3997.

Fiscal Year-End Deadlines

Only 2 months left before fiscal year-end, June 30, 2019!  Please keep the following deadlines in mind as you start planning for year-end:
  • Monday, July 15 – Deadline for FY2018-19 active member salary and contributions reporting and retiree return-to-work (RTW) earnings reporting.
  • Tuesday, July 24 – Deadline to submit corrections to clear contributions and RTW earnings exceptions.
  • Wednesday, July 25 – LSERS will start internal adjustments to any remaining exceptions.  Any further corrections to FY2018-19 require a Form 4P – Prior Year Correction of Earnings and Contributions.  The submission will be processed after July 31; interest charges apply. 
Please review your exception reports now to minimize the potential adjustments.
Procedures to exception reports: Contribution Exception Report and Retiree Return-to-Work 1006 Earnings Exception Report may be found on www.LSERS.net under Resources/Publications/Procedures.
To recognize differences between your records and LSERS’ records, login and review your Employer Transaction Report.
Questions?  Contact Kimberlyn Stewart at 225.925.4411 or kstewart@lsers.net.

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

It’s time to prepare again! For each fiscal year ending June 30, 2019, all school systems must submit to LSERS a retirement salary file; submission for this year is due August 15, 2019. The uploaded salary file should reflect employees who are LSERS members and their related annual earnings on which retirement contributions were paid. The data file layout can be located here - on page 7.
Note: to maximize the efficiency of defining valid discrepancies, we ask that you please do not include bus operators' operating expense reimbursements, as those reimbursements are not subject to retirement contributions.
If you have any questions, please contact LSERS' Internal Auditor LaQuinta Jordan, at 225.925.7492 or via email ljordan@lsers.net.
Updated Enrollment and Monthly Reporting RequirementsLSERS recently launched a service credit review and programmatically adjusted service credit for some of our membership. Members were informed of updated service credit and provided estimates if their account changes were notable.  We want to extend our thanks to each of the employers who helped us correct the service credit discrepancies that were discovered. 
To obtain all the elements needed for proper programmatic calculation of regular and eligibility service credit, we are now requiring all employment information be completed at enrollment, including full-time/part-time status, hours per week, months of contract, and position title.
Please remember!  If an employee is earning less than the full-time salary for any reason (part-time work, LWOP, extended sick leave, etc.), the reported actual salary should be the salary the employee paid retirement contributions on. Also, the reported full-time salary should be the salary the employee would have earned had they worked the required full-time effort for the position.
Thank you for your patience and cooperation as we continue auditing membership information.  If you should come across any change that causes concern, please contact us.
Service credit concerns - Mandy Schof, 225.925.7036 or mschof@lsers.net
Enrollment or reporting requirements - Tracy Gaudet, 225.925.6922 or tgaudet@lsers.net
Technical/reporting difficulties - Technical Support Team, 225.925.7750 or support@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.

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