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Indiana Public Retirement System

Indiana Public Retirement System

Indiana Public Retirement System (INPRS) > Employers > Employer Communication > Employer Update: April 2014 Employer Update: April 2014

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 and 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.

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.