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Greetings from LSERS

Welcome to the October Edition of LSERS Employer eNews. Enclosed in this issue is information on how employers can help our members access services online. We have also included information on Privatization and upcoming office closures.  I encourage you to contact our knowledgeable staff to assist you with any questions or concerns.

-Charles P. Bujol

Privatization Cost EstimateMost school systems have completed their 2018 LSERS privatization questionnaires and sent them back to us. We thank you. If your response indicated you anticipate privatizing any LSERS positions during the 2018-19 school year, we have sent you a follow up letter offering an estimate for the cost of your Unfunded Accrual Liability (UAL).  If you’ve not yet received such an estimate, and would like one, we’ll need the information listed below to do the calculation.  Please remember: any reporting agency may request a UAL cost estimate from us at any time.
What we need to calculate the cost estimate:
  1. Name of LSERS member in position prior to potential privatization
  2. SSN of LSERS member
  3. Annual salary rate earned by member prior to potential privatization
  4. LSERS member’s anticipated last day of work
  5. Estimated date on which position will be privatized
For more about privatization, please see Fact Sheet 22 – Consequences of Privatizing LSERS Positions. If you have yet to submit the requested Annual Questionnaire it is still available online.  (It was due October 1, 2018, for FYE 6/30/2018.) We sincerely appreciate each and every one of you for assisting us with this annual endeavor.  If you have any questions, please feel free to email LSERS’ Internal Auditor, LaQuinta Jordan, at ljordan@lsers.net.
 

You Can Help!LSERSWeb currently offers online access to functions such as member enrollment, termination, salary contributions reporting, and insurance deduction reporting.

We are reaching out to you for assistance in helping our members – your employees – with their LSERSWeb online account registration and accessibilities.  They can retrieve a wealth of information including active membership statements and retiree related statements in addition to updating their personal information just by going online and accessing LSERSWeb > View Personal Information.

Another feature of LSERSWeb is Active Member Annual Statement. This statement is available for downloading under the Member Statement tab.

Also available is the DROP/IBRP Participant Quarterly Statement. It is available for downloading under DROP/IBRP Information tab.

In addition, the Retiree Annual 1099R Tax Form can be reviewed and downloaded under 1099-R tab.

When a member comes to you for assistance, you can access their accounts as well, and immediately give them the information that they need. Please encourage them to register for their LSERS online account for 24/7 access, as this will allow them to access this information from the comfort of their own home.

Retiree Return to Work - 1006 Exceptions

Please make sure to terminate any retirees hired under RTW1006 who are no longer working and report actual earnings, even if zero, each month for those actively working.  Procedures can be found in the following links:  Retirees Return-to-Work Salary Reporting under Earning Limit, Retirees Return-to-Work 1006 Earnings Exception Report, and Termination Online.
 
Although, LSERS sends monthly emails to employers on this subject each month, clearing the exceptions timely will assist with providing accurate RTW1006 earnings limit amounts to members that are affected.
 
To know the earnings limit for a RTW1006, simply login to view their personal information; the limit can be found under the Member Status section.

Holiday Office Closure

Our office will be closed on the following
days in November:

Tuesday, November 6th – General Election Day
Monday, November 12th – Veterans’ Day (Observed)
Thursday, November 22nd – Thanksgiving 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.