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Direct Deposit Now Available for Members Requesting Refunds

Application for Refund of Member Contributions, Form 7, has been revised and can be located  on www.lsers.net under Resources>Forms.  Revisions include the option for members to receive their refund through direct deposit.  Please refrain from utilizing previous versions of Form 7 and utilize the revised form when assisting  members who request a refund.
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Accurately Reporting Monthly Full-time Earnings

Reporting employees’ full-time earnings correctly is very important because the correct calculation of a member's service credit depends on the accuracy of the information reported by the employer.

Full-time earnings are defined as an employee’s full-time base pay plus all extra earnings paid had they worked the entire month (including city/parish-wide salary increases, legislative acts, and sales tax supplements). Keep in mind, school bus drivers cannot contribute on operating expenses. Base pay is the compensation payable if the employee worked full-time for the full, normal working period.

When reporting full-time earnings for a part-time employee or an employee on leave without pay, the full-time earnings are the amount of salary the employee would have earned had he/she worked full-time for the entire period covered.
 

Example:
Jane worked 4 hours per day out of a possible 8-hour workday for the entire school year. Her actual earnings were $1,000 per month. The full-time earnings were the amount of salary Jane would have earned for a full 8 hours each day. Therefore, her full-time earnings should be $2,000 per month.

For questions about monthly salaries and contributions reports, contact Chenfei Zhou at 225.925.6492 or czhou@lsers.net.
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100% accrual

Do you have employees who are approaching 100% accrual within this fiscal year?  Current year adjustments are much easier to process than Prior Year Corrections (PYC).  Please review your records for all persons who may have already or are approaching their 100% accrual dates.  Proper salary reporting and employment information ensure timely and more accurate date calculations.
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Employer Training

LSERS is excited to announce that we will be joining TRSL for their Employer Training event!
 
LSERS training will be held from 1 p.m. to 3:30 p.m.
  • Monday, March 7: K-12 employers
  • Tuesday, March 8: Charter schools
Training will be held at TRSL site; 4th floor of the Louisiana Retirement Systems Building, 8401 United Plaza Blvd., Baton Rouge, La.
 
Register online today!
 
Contact Patty Traylor @ 225.287.7493 or ptraylor@lsers.net with any questions.
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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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