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Sincere “Thank You” from LSERS

Thank you for all your hard work to meet the fiscal year-end closing on July 22, 2016. All exceptions are cleared and the 2015-16 year is closed!

If you have a correction to earnings and contributions for 2015-16 fiscal year, submit a Form 4P, Prior Year Correction of Earnings and Contributions.

Contact Cindy Terranova at 225.922.0220, cterranova@lsers.net or Chenfei Zhou at 225.925.6492, czhou@lsers.net if you have questions about prior year corrections.
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As we turn the calendar from July to August, we are looking forward to the fall cooler weather, football season, pumpkin treats, and… receiving your submissions!

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Annual Retirement Salary (RET) File Due August 15

Each school board shall submit to LSERS an annual retirement salary file for the fiscal year ended June 30, 2016. The salary file should include annual earnings of all individuals paid by this employer. Please note, for bus drivers do not include the payments entitled for reimbursement of operating expenses that are not subject to retirement contributions.

Please submit the fixed length text file on or before August 15, 2016 via LSERSWeb portal. Refer to the procedures for uploading the file on the web: Salary, Insurance & Retirement Uploads - Retirement. The naming convention for the file should be:  RETnnnn_2016 where nnnn is the employer id number.
 
If you have any questions, contact Larisa Ellard, LSERS internal auditor, at 225.925.7492 or via email lellard@lsers.net
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September 1 Deadline for Reporting Critical Shortage of Bus Drivers

All 1007 retired return-to-work (RTW) bus drivers who were enrolled as a result of a critical bus driver shortage for Fiscal Year 2015-16 have been terminated as of June 30, 2016.  Each school year the school board must meet the requirements of La. R.S. 11:1007 by September 1 before enrolling RTW retirees under the critical bus driver shortage provisions.

School systems experiencing a critical shortage of qualified bus drivers for the 2016-17 school year may certify the shortage to the Louisiana Board of Elementary and Secondary Education (BESE) to qualify for hiring under the provisions of La. R.S. 11:1007.

For more information about the return-to-work requirements, refer to Fact Sheet 18 – Retirees Who Return to Work and the LSERS memo published on the website under the News section on July 15, 2016.
 
If you have any questions, contact Chenfei Zhou at 225.925.6492 or via email czhou@lsers.net.
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Annual Privatization Questionnaire Due October 1

Please remember that all school districts shall complete an annual privatization questionnaire covering the preceding fiscal year. The Annual Privatization Questionnaire is now available online. The information contained within the questionnaire should be certified by the School Board Superintendent and returned to LSERS on or before October 1, 2016.

If you have any questions, contact Larisa Ellard, LSERS internal auditor, at 225.925.7492 or via email lellard@lsers.net.
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GASB 68 Annual Reports Posted to Website

GASB 68 Resources for employers are available on LSERS website. These reports identify the proportionate share of the net pension liability and the total employer pension expense for participating employers.  GASB 68 Schedules by Employer and Employer Pension Audit reports for 2014-15 are posted.  Questions about how to report the employer’s share of the net pension liability and expenses should be directed to your financial auditors.  Contact our chief financial officer, Melinda Carson, at 225.925.6491 or via email at mcarson@lsers.net if you have questions about LSERS’ audited reports.
 

And, as always, we appreciate and welcome any and all comments, as this helps
us identify ways to make improvements for you and provide better service to our
members and employers. Feel free to provide feedback and suggestions using
the LSERS Satisfaction Survey on our "Contact Us" page on the LSERS website.

Copyright © 2016 Louisiana School Employees' Retirement System, All rights reserved.


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