Amending Your PERS Participation Agreement

  • Published on
    31-Dec-2015

  • View
    10

  • Download
    2

DESCRIPTION

Amending Your PERS Participation Agreement. Division of Retirement and Benefits. Introduction. How to Amend Your Participation Agreement Who do I contact? Who can be removed or added? What do I need to provide to the Division? What happens when positions are removed?. Introduction. - PowerPoint PPT Presentation

Transcript

<ul><li><p>Amending Your PERS Participation AgreementDivision of Retirement and Benefits</p></li><li><p>IntroductionHow to Amend Your Participation AgreementWho do I contact?Who can be removed or added?What do I need to provide to the Division?What happens when positions are removed?</p></li><li><p>IntroductionAlaska Statute 39.35.615 and 39.35.957 allows an employer to amend its participation agreement to add or exclude departments, groups, or other classifications of employees.</p></li><li><p>ProcessAdoption of a resolution;Signed amendment;Submitted to the Division of Retirement and Benefits; andSigned by the Administrator.</p></li><li><p>ContactsEmployers should contact their Regional Counselor to begin the amendment process.Anchorage employers should contact Larry Davis, Counseling Supervisor.</p></li><li><p>Amendment ProcessFiling a ResolutionThe resolution must:be adopted by the legislative body of the political subdivision, andbe approved by the person required by law to approve the resolution, orin the case of a public organization after the adoption of a resolution, by the governing body. An original certified copy must be provided to the Division.</p></li><li><p>Amendment ProcessFiling an AmendmentAn amendment specifying the addition or removal of a group or classification of employees must be submitted to the Division.Recognized past service cannot be recognized when adding employees.You must submit two (2) original copies for the Administrators signature.</p></li><li><p>Amendment ProcessAmendments are effective the first day of the month following receipt of the signed resolution and the amendment.</p></li><li><p>Amendment ProcessAmendments must comply with the statutory requirements of the PERS.Definitions of part-time and seasonal employees cannot be changed.</p></li><li><p>Removing EmployeesIf an employer removes a group or classification of employees without the vote of the employees, these employees are automatically vested in PERS if they do not elect to refund their contributions.</p></li><li><p>Removing EmployeesIf a group or classification vote to come out of PERS and the employer agrees, they are not automatically vested.</p></li><li><p>Termination CostsThere are costs associated with removing groups or classifications of employees from PERS.Employers must have a termination study done by Buck Consultants. Employers are responsible for cost of the study.The study will tell you what your one-time termination cost is.</p></li><li><p>Termination CostsIn addition to the termination cost, there is an going cost until the past service liability of the plan is extinguished.2 AAC 35.229 prevents the double-billing for the salary floor costs and the ongoing termination costs.</p></li><li><p>ConclusionThank you for attending. If you have any questions about amending your participation agreement, please contact your Regional Counselor.</p><p>Introduction</p><p>Welcome to the employer conference. Today we will be discussing the steps in amending participation agreements in the PERS.</p><p>Your participation agreement in PERS is your contract with the PERS. The agreement states who you wish to included or exclude, such as all permanent full time employees, or only employees who are in a specific department. It is up to the employer to make those decisions but once they are made you must follow the agreement or amend it. Note the State of Alaska does not have a participation agreement, all permanent employees are included in the PERS by statute. </p><p>Employers can chose to add or to remove a department, group or classification of employees in PERS by amending their participation agreement. </p><p>*These are the items we will be discussing in this presentation.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*The statute allows an employer to remove a group, classification or department. If a group, classification or department must be removed at the same time. You cannot take part of a group or etc. out. There are one of positions that can be removed, Police Chief, Fire Chief, City Manager et. Example if you remove the Public Works Department then all employees in that department must be removed from PERS, the same if you were to add them , then you would have to add all of them.*</p></li></ul>

Recommended

View more >