Employer eNews

Reminder! Employer Training Event!

First, let us thank TRSL for this exciting opportunity to join efforts in providing you with valuable information to make your job easier!

That said, if you have any specifics you’d like to see in the training, please share this with us so we can attempt to capture the information in our training presentation.

One more thing!

We extend a Meet and Greet invitation for you to visit our building and meet LSERS Staff while in this area! Our office will be open from 7:30a.m. to 5:00p.m. in anticipation of getting to meet you. Our building is located at the “other end of the boulevard” at 8660 UNITED PLAZA BLVD. Take a left out of TRSL parking lot, we are last building on your right.

Employer Training Event: LSERS session – 1 p.m. to 3:30 p.m.

Monday, March 7: K-12 employers
Tuesday, March 8: Charter schools

Louisiana Retirement Systems Building
8401 United Plaza Blvd., 4^th Floor, Baton Rouge, La.

Register online today for the Comprehensive Employer Training via TRSL website

Contact Patty Traylor at 225.287.7493 or ptraylor@lsers.net with specifics about LSERS training.
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Legislative Session

The 2016 Regular Legislative Session convenes at noon on Monday, March 14, 2016, and must adjourn by 6:00 p.m. on Monday, June 6, 2016. The Board of Trustees met on February 16, 2016, and reviewed all bills which have been pre-filed for the upcoming Regular Session which would impact the members of LSERS. The board took positions on the following bills:

HB16 by Chairman Pearson requires LSERS to fund its non-investment administrative expenses by including them in the normal cost calculation of the system’s employer contribution rate rather than amortizing the cost over 30 years. Board Requested. SUPPORT

HB32 by Rep. Jones provides a COLA payable to eligible retirees on July 1, 2016 from the experience account up to a maximum of 2%. SUPPORT

SB2 by Chairman Peacock also provides a COLA payable to eligible retirees on July 1, 2016 from the experience account up to a maximum of 2%. SUPPORT

SB6 by Chairman Peacock removes the requirement to transfer certain ex-member’s balances to the Pension Accumulation Fund in the event the system does not receive a response from the notice of rights submitted to the member. Elimination of this practice will result in more accurate pricing of liabilities. Board requested. SUPPORT

SB7 by Chairman Peacock removes the requirement that a member shall be an “active, contributing” member in order to be eligible to purchase service credit. Also removes the requirement of purchasing a minimum of 90 days of service. Board requested. SUPPORT

SB8 by Chairman Peacock removes the word “systematic” relative to DROP disbursement requirements in order to allow the board to consider additional options to our retirees for withdrawing their funds. Board requested. SUPPORT

SB9 by Chairman Peacock clarifies 5 years at age 62 vesting eligibility for new hires after July 1, 2015. Board requested. SUPPORT

There are many other bills that have been pre-filed for the upcoming Regular Session which would impact LSERS members. The Board of Trustees reviewed each of these bills, but chose to defer taking positions on such bills pending further study by system staff, actuaries and the release of actuarial notes by the Office of the Legislative Auditor. The proposed bills include a large “Pension Reform” package filed by Rep. Ivey. His package includes resolutions and companion bills which would remove the guarantee of certain retirement benefits as well as establish hybrid benefit plans and tiered plans for new hires.
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Fiscal Year End Ahead

Get a jump start on year end balancing. Remember to utilize the Employer reports on LSERS.net. Here are the ones that should be of great help to you:

Member Salary Contribution Report by Employer	Report listing reported salary and contributions by month to confirm all salary file uploads have been recorded
Contribution Exception Report Online	Report listing contribution exceptions by month and how to clear exceptions. All exceptions must be cleared by July 22, 2016.
Employer Charges Payments Report	Report listing charges and payments by employer to verify all payments have been applied to your account. When checking for charges, remember--actual gross salary multiplied by 30.20% should equal your employer charges.

If you have any questions, contact Chenfei Zhou, Accountant Manager, at czhou@lsers.net.
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Just a Reminder - Print Forms From Website

LSERS values the effort made by employers to facilitate retirement processes. To enhance the great job you are already doing, we ask that you utilize the LSERS website to access the most current LSERS forms.

LSERS forms are revised occasionally, thus it is best to print them from the web each time one is required. Not only will this ensure you always have the most recent version of the form, but it also reduces costs while protecting the environment.