Employer Update - March 2013
Avoid being penalized for late payments
Reports and payments should be submitted via ERM the date you pay your employees. There will be a seven-calendar day grace period from the payroll date before interest begins to accrue on member and employer contributions. Interest will accrue at 3 percent annually for late payments. A penalty of $100 per day may begin to accrue if payment has not been received by 30 calendar days after the due date.
Employers need to be current with payroll submissions and exceptions to avoid interest and/or penalties. Employers who are not current with submission and exception clean up by May 1, 2013 will be charged interest and/or penalties.
Any exceptions that are over 30 days old will prevent an employer from submitting any reporting information until the exceptions are resolved.
Reminder: Do not send payments to our lockbox
Our account and lockbox with JP Morgan Chase at PO Box 66165 has been closed. Wages and Contributions payments are made through ERM. Any other payments should be sent to:
Indiana Public Retirement System
One North Capitol, Suite 001
Indianapolis, IN 46204
Checks received at the JP Morgan lockbox will be returned to the sender. Please contact INPRS at (888) 876-2707 or eppa@inprs.in.gov if you have any questions.
Certified Salary Letters due now
Some 1977 Fund employers still need to submit their 2013 Certified Salary information to INPRS. This is an annual requirement needed for first-class policemen and firefighters. There could be a potential delay in member benefit processing if this information is not received.
The information is used in auditing and posting accounts. It also aids in identifying proper withholdings and payments.
The form can be accessed at http://www.in.gov/inprs/files/Certified_Salary_Letter.doc
Complete the form and return to EPPA via e-mail at eppa@inprs.in.gov or fax to (317) 234-6692.
Gearing up for retirement season
Retirement applications for the summer months will be rolling in soon. We need your help to avoid delays and payment interruptions for potential retirees.
We will need you to:
- Enter retiring employees information into ERM as early as possible
- Enter the Termination Life Event information when a member’s final day of service has been confirmed
- Set a final check date (may need to move out one or two payroll cycles) to ensure final wages are all captured
Retirement applications cannot be processed without this information. If you have any questions, please call toll-free at (888) 876-2707, or e-mail at eppa@inprs.in.gov.
Quarterly member statements are now electronic
Members can view and print electronic versions of their quarterly member statements from PERF Online or TRF Interactive . After logging in, members should go to the “My Account” tab and click on “Account Details”, then “Online Statement.” At that point, a list of statements will appear.
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.
