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Indiana Public Retirement System

Indiana Public Retirement System (INPRS) > Employers > Employer Communication >  Employer Update: June 2012 Employer Update: June 2012

 

New and improved ERM Web site

The ERM Web site has been restructured and now offers employers a user-friendly Web location for all things ERM.

The newly re-launched site provides general ERM information, training materials, file layouts, forms, FAQs, and a forum to discuss ERM, all conveniently categorized to make it as easy as possible to find what you need! The Web address, er.inprs.in.gov, remains unchanged.

EPPA…here for you!

The recently launched Employer Pension Plan Administration (EPPA) team allows you to interact with only one department at INPRS regardless of your need.

Devoted to providing excellent customer service to employers, EPPA offers an employer-only telephone number. When you call (888) 876-2707, you will be asked to enter your seven-digit Submission Unit Identification Number (SUID) which could include leading and trailing zeroes. For example, an employer’s SUID is 0582-000. Although commonly stated as “582,” you will need to enter 0582000 to access the system.

EPPA can also be reached by e-mail at eppa@inprs.in.gov.

Have you tested your files?

Soft open, scheduled for summer 2012, will allow employers to practice enrolling members and submitting wages and contributions info, etc. in a test environment before ERM goes live in October. Bulk files should be structurally tested before soft open.
 
This will allow you to focus on the accuracy of actual data, rather than file structure, during the soft open period.
 
E-mail your employer name and number to erm@inprs.in.gov for more information on how to initiate this testing process.

Early reporting deadline approaching

Submitting by July 15 an error-free wages and contributions report and payment for the quarter ending June 30 gives employers a perfect opportunity to reduce the chance for errors in September, prior to ERM go-live.

Employers must be able to report wages and contributions and submit payment early for the quarter ending September 30, 2012; employers who do this will have their wage and contribution information automatically converted to ERM. Early reporting can begin as early as September 15; employers are encouraged to submit error-free reports and payments as close to this day as possible. Any employer not able to submit an error-free report and payment by October 15 will have to manually enter wage and contribution information into the ERM application, by payroll period, for the time period beginning July 1 and ending September 30.

Reporting early for the quarter ending June 30 will allow employers a “practice round” for early submission. To submit early, wages and contributions and payment should be submitted, without errors, between June 15 and June 30. The latest these should be submitted is July 15.

Have you completed your ERM training?

At employers’ requests, INPRS has scheduled additional ERM webinars and workshops.

Click here to view the schedule of workshops and here to view the schedule of webinars now available. If you have already attended a workshop or webinar, you are still welcome to attend an additional training session(s) as a refresher before go-live.

Additional ERM training materials, including computer-based training, user manuals, and quick reference guides are available at er.inprs.in.gov. ERM go-live is quickly approaching … make sure you leave yourself time to train.

School’s out! One more assignment…

In the past, you've helped us successfully finalize the paperwork needed to process your staff's retirement applications. We're asking again for your assistance.

Please prepare this required information and provide it to PERF and TRF to process your staff's retirements:

  • Last Day in Pay (LDPS) for employees retiring in June, July and August
  • Certify Service such as school term, contract period or actual months worked
  • Final Wage Report

PERF and TRF cannot process retirement benefits without this information. Please help us to help them start their well earned retirements without payment interruption! Log in to PERF Online or TRF Interactive at inprs.in.gov to submit the information before or during the employee's exit interview.

For TRF employers, final wages information (severance) should be submitted in the comments sections of the LDPS electronic form, as the Part II is no longer required.  Once ERM goes live, final wage information will be entered directly into the ERM application, effectively capturing any severance information. If you have any questions, please call toll-free at (888) 876-2707. You can also e-mail eppa@inprs.in.gov.

Learn about new legislation

A number of INPRS-related legislative changes were approved by the 2012 Indiana General Assembly. Read more.

A list of changes most relevant to our members is available here.

New Guaranteed Fund rate

Members who invest Annuity Savings Account (ASA) funds in the Guaranteed Fund will earn an annual return of 0.28 percent beginning July 1, 2012. The rate is set annually by the Indiana Public Retirement System (INPRS) Board of Trustees.

In setting the rate, board members considered comparable investment options which are publicly available. The new Guaranteed Fund rate setting formula is tied to a two-year U.S. Treasury Note.

The Guaranteed Fund offers an investment option that will not lose value, with a return that is as good as or better than members could find in a similar investment product elsewhere.

Currently, Money Market rates are at 0.10 - 1.05 percent1 , one-year bank CD rates are at 0.10-1.15 percent1 , and one-year U.S. Treasury Bill rates are at 0.17 percent2. Two-year U.S. Treasury Notes are at 0.26 percent2 .

The Guaranteed Fund is one of the options in a lineup of investment funds that provide members greater control in saving for their retirement futures.

For all of the investment fund options, please click here.

If you have questions, please contact the customer service center Monday through Friday from 8 a.m. to 8 p.m. EST. Call (888) 526-1687 (PERF) or (888) 286-3544 (TRF) or send an e-mail to questions@inprs.in.gov.

1Source: Bankrate.com, 6/6/2012
2Source: Bloomberg, 6/6/2012


Every attempt has been made to verify that the information in this publication is correct and up-to-date. Published content does not constitute legal advice. If a conflict arises between information contained in this publication and the law, the applicable law shall apply.