Employer Update - June 2013
Does severance ring a bell?Severance wages, now reported in ERM, eliminate the need for a final wage report. Keep these tips in mind when uploading a file or entering this information in your Wage & Contribution submission.
- Report the correct totals for regular wages and severance wages in the proper fields
- Regular wages + severance wages = total wages reported
- Regular wages and severance wages have required employer and employee fields (see page 40 of ERM Wage & Contribution User Manual)
- Employer share amount is a percentage of the first $2,000 of severance wages
- No employer share amount over $2,000 is allowed
- Employee share amount is required for the first $2,000
- Employee share amount after first $2,000 is optional
Note: Severance should not be reported for members in the 1977 Police and Firefighters’ Fund or the Judges’ Fund.
Detailed instructions on completing and troubleshooting all functions of the ERM application are available in the user manuals, available here: http://www.in.gov/inprs/erm_manuals.htm.
If you have any questions, please contact the EPPA group at (888) 876-2707 or at firstname.lastname@example.org.
Make sure you’re using the most current formsSome employers are submitting information on outdated forms.
If you’re printing forms in bulk and pulling them from a stack, please check our Web site before completing and submitting to INPRS. Our complete, most up-to-date list of forms is located here: http://www.in.gov/inprs/employerforms.htm.
What is the last day in pay?As defined in INPRS’ ERM Manuals, last day in pay is the last day an employee accrued or earned a wage (i.e., termination date) as a covered or non-covered employee.
This date should be reported once an employee has completely separated from employment.
Note: A retirement and/or ASA distribution cannot be processed until the employee has completely separated from employment and a last day in pay has been reported.
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.