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February 13, 2018

ESS Training Offered By ESC

Once you choose a date and time that fits your schedule, please find it below, click on the link aside the date/time and register.  Don’t forget to mark your calendars once you register.  Thank you.

1. Wednesday, February 21, 2018
10am until 12pm:
REGISTER
2. Thursday, February 22, 2018
1pm until 3pm:
REGISTER
3. Friday, February 23, 2018
10am until 12pm:
REGISTER
4. Monday, February 26, 2018
1pm until 3pm:
REGISTER
5. Tuesday, February 27, 2018
10am until 12pm:
REGISTER
6. Wednesday, February 28, 2018
1pm until 3pm:             
REGISTER
7 Thursday, March 1, 2018
10am until 12pm:
REGISTER
8. Friday, March 2, 2018
1pm until 3pm:
REGISTER
9. Monday, March 5, 2018
10am until 12pm:
REGISTER
10 Tuesday, March 6, 2018
1pm until 3pm: 
REGISTER
11. Wednesday, March 7, 2018
1pm until 3pm:
REGISTER
















January 8, 2018

2017 Premium Assistance Verification

The Premium Assistance Verification will commence this week as reports are being mailed to the Business Managers of Commonwealth School Employers.  These listings represent monthly Premium Assistance payments made to retirees as a reimbursement of premiums paid toward the cost your health insurance plan for their personal coverage.  The Internal Revenue Service requires PSERS to verify that premiums were actually paid by retirees receiving this reimbursement.  PSERS is requesting that employers verify premiums paid during the 2017 calendar year.  In order to ensure there is no interruption in Premium Assistance to your plan participants, please complete and return the report to PSERS by March 31, 2018.  Calls regarding the 2017 Premium Assistance verification should be directed to the Premium Assistance Unit at 1-866-483-5509.

Your assistance in verifying these payments is greatly appreciated.




December 8, 2017
 

Contribution Rate Announcements 

Employer Contribution Rate for Fiscal Year 2018-2019 

 
The employer contribution rate for fiscal year 2018-2019 will be 33.43%. The rate applies to salary and wages earned from July 1, 2018 through June 30, 2019.  
 
The rate was determined by PSERS’ actuary, and certified by the PSERS Board of Trustees at its meeting on December 8, 2017. The certified employer contribution rate for fiscal year 2018-2019 is less than the previously projected 34.18 percent due in part to positive FY 2017 economic and demographic experience, including investment outperformance.  
 
The employer contribution rate for fiscal year 2018-2019 consists of 32.60% for pension costs and 0.83% for premium assistance payments. Of the 32.60% portion of the employer contribution rate, 25.01% represents payment toward the unfunded liability.
 
Shared Risk Performance  
 
At its meeting on December 8, 2017, the PSERS Board of Trustees certified and retained the current T-E member contribution rate of 7.50% and T-F member contribution rate of 10.30% for the next three-year period from July 1, 2018 to June 30, 2021.  New members hired after July 1, 2011 share some of PSERS’ investment risk. Their contribution rates fluctuate every three years based on the Fund’s investment performance. The next measurement period for the “shared risk” provisions ends June 30, 2020.
 
 
July 6, 2017
 
GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENT NO. 68 (GASB 68) INFORMATION PROVIDED TO EMPLOYERS  

The 2017 GASB 68 information is as of and for the year ended June 30, 2016 (measurement date) and is for use in employer’s financial statements for the year ended December 31, 2016 or June 30, 2017, whichever is applicable.

 PSERS has provided, through an email blast, to its employer contacts and business managers information necessary to comply with Governmental Accounting Standards Board Statement No. 68 (GASB 68).  PSERS has endeavored to provide as much information as possible to its employers as they report in accordance with this GASB Standard.  The email contained explanations of what was provided and what the employers’ responsibilities are.  Additionally there were three attachments. 

 The attachments included in the email contained the following audited and supplemental information: 

AUDITED
Schedule of Employer Allocations
Schedule of Pension Amounts by Employer
Schedule of Amortization of Employers’ Deferred Outflows/Inflows
Notes to Schedule of Employer Allocations, Schedule of Pension Amounts by Employer, and Schedule of Amortization of Employers’ Deferred Outflows/Inflows

SUPPLEMENTAL (UNAUDITED)
Sample Note Disclosures
Reconciliation of Reported Covered Payroll
Schedule of Employers’ Changes in Proportion
Schedule of Separately Finance Specific Liabilities

 

Additional GASB 68 Resources can be found on the PSERS Employer GASB 68 Information

If you did not receive the information or have any questions regarding the GASB 68 information provided, please send an email to the following email address: RA-PSERSEMPACCT@pa.gov.

 
 
 July 3, 2017 
 

Employer Workshop Presentation:

PSERS conducted our annual Spring Employer Workshops through June 2017. It was a pleasure to meet those who were able to attend. Traveling around the state to do workshops is always a great way for the Employer Service Center (ESC) representatives to interact face to face with you. There were a total of 714 attendees who represented 431 different employers this year. We thank you for your support and interest, and appreciate the questions and feedback that was provided by you via the survey at the end of each workshop.

If you missed this year’s workshop, or you would like to revisit a particular topic again, we have provided the link to the workshop presentation entitled “Back to Basics: A Review of Fundamental Concepts and Tips for Making your Job Easier”.   

  

 

April 10, 2017
 

Return to Service, SHORT-TERM SUBSTITUTE TEMPLATE LETTER 

Below is a link to the newly released Short-term Substitute Template Letter referenced under “Process A” of the recently revised Return to Service Guidelines.
Again, please contact your ESC regional representative with any questions regarding the Return to Service process.
 
 
 

March 31, 2017 
 

PSERS HOP Invitation for Application – IFA 2017-01 

PSERS has posted the Invitation for Application documents for managed care organizations to apply to provide Medicare Advantage and pre-65 managed care plans for the 2017 Health Options Program.  A nonbinding letter of intent to apply is due April 14, 2017. The fully completed application is due May 12, 2017. Proposed rates for 2018 are due June 8, 2017. There are five Parts to the Invitation for Application, plus one attached Form. Instructions are included in the various documents. Please click on each link to download the document: 

Part I  – General Information
Part II – Contractor Requirements and Vendor Qualification

Part III – Application

Part IV – Contract Document

Part V – Commonwealth Standard Contract Terms

Form A – Trade Secret Confidential Proprietary Information Notice Form 

 
 

Return to Service Presentation, PASBO Conference in Pittsburgh (March 23-24)

PSERS presented a comprehensive review of newly revised Return to Service guidelines and the associated process at the recently held PASBO conference.  Copies of the presentation and materials are linked below. Contact your ESC regional representative with any questions.  Additional information will be provided to all PSERS reporting units in the near future regarding this topic. 

 
 

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