Home

Ending Payroll Verification for New Retirees

Employers are essential in the pension calculation process. The Ending Payroll Verification (EPV) is required from every ASRS employer through which a new retiree has contributed within the past three years–without it, the ASRS cannot begin to process the pension. That is why the ASRS sends a letter to new retirees 10 days after their retirement date if an EPV has not been received. The letter explains that their employer needs to verify their final contributions before their pension can be completed. It is important for new retirees to know that this verification is needed and any delays in receiving this verification can delay their pension.

You can advise your new retirees that the EPV will be submitted after their final pay period has ended and during the processing of their final paycheck. Remember that you can also revise an EPV within 12 months of submitting it.  Read more about EPVs in Chapter 8 of the Employer Manual.

 

 

Was this page helpful?: 
Average: 3 (2 votes)