Greetings from Executive Director
Welcome to the new year with LSERS'. We have a number of interesting articles in this issue which I hope you will find helpful. Please feel free to contact our knowledgeable staff to assist you with any questions.
- Charles P. Bujol
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Part-time and Substitute Earnings
The definition of earnable compensation as defined in La. R.S. 11:1002 (12) is the full amount earned by an employee for a given pay period. This means 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 driver is also working part-time or substituting in your maintenance department, both bus driver and maintenance earnings must be reported to LSERS.
Also, employers must report earnings on part-time or substitute work in LSERS-eligible positions for members with 10 or more years. These positions include school bus driver (operator), school janitor, school custodian, school maintenance employee, school bus aides, monitor or attendant, or other regular school employee who works on a school bus helping with the transportation of school children.
If you have any questions, contact Chenfei Zhou at czhou@lsers.net or 225.925.6492.
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FY 2016-17 Exceptions
During the holidays, we saw an increase in the number of exceptions for November and December. Let’s start the new year by clearing exceptions monthly. This will make the fiscal year-end closing much smoother. Refer to Contribution Exception Report Online procedures to retrieve your report which also indicates how to clear the exceptions. We are here to help. If you have any questions, email webmaster@lsers.net or call Kimberlyn Stewart at 225.925.4411
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Refund Timeline
Please refer the members to Fact Sheet 7 on LSERS.net for more information on the refund process. Members may request a refund upon termination of the their employment and should receive their refund by check or direct deposit in approximately 4 months after their last day of work. Remember--Employer must hold the refund application for 90 days before certifying and submitting the form to LSERS.
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DROP Eligible Notifications Mailed to Members.
The annual DROP Eligible notification letters were mailed earlier this month to members who will reach DROP eligibility within the next 12 months. The eligibility is based on current information on file at LSERS and may change if service credit is certified by the employer causing a change in the service credit amount.
Reminder: The Members Eligible for DROP Report is available online 24/7. This report lists your employees who are eligible for DROP. See the Members Eligible for DROP procedures for detailed instruction for accessing this report online.
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