Employer Reporting, Compliance & Education · the insurance fund Rate is set by law and does not...
Transcript of Employer Reporting, Compliance & Education · the insurance fund Rate is set by law and does not...
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Summer 2018 Training
Employer Reporting,
Compliance & Education
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REPORTING DETAILS
Data builds
member
accounts
50+ fields
per
employee
Report
employees
when paid*
Report
ALL
employees*
Enter Report
Details ----------
Upload
Detail File
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CONTRIBUTION GROUPS
Without Health Insurance
With Health Insurance
Cash Balance
Retired Re-employed
Non-Participating
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BENEFIT TIERS
Participation
Date
Prior to
9/1/08
Without HICON
NHAZ 5%
HAZ 8%
Participation
Date
9/1/08 –
12/31/13
With HICON
NHAZ 6%
HAZ 9%
Participation
Date
1/1/14
and after
Cash Balance
NHAZ 6%
HAZ 9%
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POSTION STATUSES
105 KAR 1:140 Employer’s Administrative Duties
PARTICIPATING
STATUSES
• Regular Full Time
• Regular Full Time
Less Than 12
Months
• Part Time
• Intermittent
NON-PARTICIPATING
STATUSES
• Part Time
• Intermittent
• Seasonal
• Temporary
• Interim
• Emergency
• Probationary (CERS
only)
• Retired Police
Officer
INDEPENDENT
CONTRACTORS
• Contracts must be
submitted to ERCE
• Contracts are
provided to our
Office of Legal
Services for review
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SALARY
EECON is
withheld from
the employee’s
paycheck
Deposited in
the member’s
account
Rate is set by
law and does
not change
HICON is
withheld from
the employee’s
paycheck
Deposited to
the insurance
fund
Rate is set by
law and does
not change
ERCON is paid
by the
employer
Deposited to
the pension
and insurance
funds
ERCON rates
can change
every July 1st
An employee’s reported salary determines the contribution amounts to be withheld and
reported each month. Reported salary is also used to calculate retirement benefits and
service purchase costs.
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SALARY – REPORT TO KRS
Creditable compensation
Lump Sum Comp Pay (Tier 1 only)
Lump Sum Bonus, Severance Pay
Settlement Payments
Qualified Transportation Fringe
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SALARY – DO NOT REPORT TO KRS
Lump Sum Payments for Annual/Vacation
Lump Sum Payments for Sick*
Training Incentive payments
Living Allowances & Expense Reimbursements
Lump Sum Comp Pay for Tier 2 & 3
Nominal fees paid to a volunteer
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PAYMENT REASONS
Regular Wages
• Regular Pay
• Regular Pay with
additional creditable
compensation
• Probationary period
completion
• Leave without pay
• Furlough
• Layoff
• Summer months
Additional Wages
• Bonus or severance
payment
• IPS payment
• Lump sum
compensatory pay
• Alternate sick leave
payment
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JOB POSITIONS
Other
Mayor\City Elected Officials
Magistrate
Coroner
County Attorney Employee
Master Commissioner
Volunteer Fireman - Okolona Fire
Only
Approved Hazardous Positions
Non-Hazardous Public Safety Officers
Jailer
Sheriff
Police
Fire
EMS
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EMPLOYMENT DATES
New Begin
Date
• New
Employees
• Rehired
Employees
New Begin
Date
• Position
Status
Change
• Job Position
Change
• Contribution
Group
Change
End Date &
Reason
• Termination
• Retirement
• Death
• Contribution
Group
Change
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RATE OF PAY FIELDS
Rate of Pay
Type of Rate of Pay
Payroll Frequency
Hours Per Day
Estimated Additional
Compensation
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LEAVE BALANCES
Sick Leave
• Hours Accrued
• Days Accrued
• Hours in a Sick
Leave Day
Compensatory
Leave
• Hours Accrued
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ADDRESSES
Incorrect
100 SOUTH MAIN ST
Correct
100 S MAIN ST
Incorrect
1000 CROOKED CRK RD
Correct
1000 CROOKED CREEK RD
COT has advised that there is a routine maintenance window every Saturday from 7:00pm to midnight
EST. During maintenance, web reporters will not be able to update records in Employer Self Service. If
you attempt to update your account or monthly reporting records during the maintenance window, you
will receive an error message and will not be able to complete the update.
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LEGISLATIVE CHANGES
House Bill 364 – Sheriff Employment
of Retired Police
Senate Bill 206 – City Employment of
Retired Police Officer
House Bill 153 – Volunteer Service
Reimbursements
Senate Bill 104 – Pension Spiking
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LEGISLATIVE CHANGES
Applies to members retiring through
6/30/2017Senate Bill 2
• Employer pays for spike
• No change to employee’s creditable compensation
Applies to members retiring 1/1/2018 and
afterSenate Bill 104
• Creditable compensation is reduced to 10% limit within final compensation
• New exclusions
• Refunds due to reduction in creditable compensation
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EMPLOYER RESOURCES
Our TeamReporting
Manual
Website Email
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Questions?
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This presentation is written in plain language for use by public employers and employees
who are subject to coverage under the Kentucky Retirement Systems. It is not intended as
a substitute for federal or state law, namely the Kentucky Revised Statutes, the Kentucky
Administrative Regulations, or the Internal Revenue Code, nor will its interpretation
prevail should a conflict arise between it and the Kentucky Revised Statutes, Kentucky
Administrative Regulations, or Internal Revenue Code. Rules governing the retirement
system are subject to change periodically either by statute of the Kentucky General
Assembly, regulation of the Kentucky Retirement Systems, or regulation of the Internal
Revenue Code. If you have questions about this material, please contact our office or seek
legal advice from your attorney. Notwithstanding the foregoing, upon the discovery of
any error or omission in system records, the system shall correct all records including but
not limited to, membership in the system, service credit, member and employer
contributions, and benefits paid and payable. See KRS 61.685.