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The interest feature in ERM will not be implemented on May 1, 2013. INPRS will provide advance notice to employers when this feature is activated.
The reporting of wages and contributions remains important. When you report on time, members' money is deposited sooner into their Annuity Savings Accounts (ASAs). Members can then take advantage of timely investing to help manage their retirement.
State law (IC 5-10.3-7-12.5) provides that INPRS may implement penalties for employers who fail to submit required contributions and reports within 30 days of the due date. Late submissions may be subject to a $100 per day penalty. If the 30th day following the due date is on a Saturday, Sunday or legal holiday, penalties would begin the next working day. The 30 day count will begin on May 1.
If you have any questions, please contact the EPPA group at (888) 876-2707 or at email@example.com.
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.