Autumn brings an increase in new members to the ASRS. As employers, your role is critical in ensuring your new employees are directed to Online Registration and that they see the importance of enrollment.
- Online registration / enrollment allows the employee to be identified and grants them access to their ASRS account and contribution information.
- New employees designate beneficiaries during the online registration / enrollment process.
- Missing enrollment information leads to delays in contribution withdrawal and retirement.
- Missing enrollment information could also result in the account eventually becoming abandoned property.
With the recent implementation of GASB 68, it is even more important that employers correctly report all eligible employee census data.
Before submitting the payroll file or enrollment data to the ASRS, please remember to verify the employee's Social Security number (SSN). Taking this extra step up-front will reduce errors to member accounts caused when contributions are submitted under an incorrect SSN. These errors may create delays in processing refunds or retirement distributions, or affect other member requests.
In the event an SSN error occurs, please contact the ASRS as soon as possible for assistance to make the correction.
The following pages will help your employees better understand the process and importance of online registration / enrollment -
