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Employer News

Avoid Unfunded Liabilities!

As we close out calendar year 2022, the ASRS wants to remind you about the importance of reporting contributions accurately and in a timely manner. The purpose of this reminder is to help our employers avoid late fees and, in some cases, the potentially expensive result of creating an unfunded liability.

Employee Enrollment Reminders

One of the first things all employers should do to assist their employees is to ensure that they are enrolled in their online myASRS account using their ASRS employer’s enrollment code. Online enrollment allows employers to review and verify three important pieces of demographic data, confirm the member’s employment, and verify that they are eligible for ASRS membership.

Enrolling Employees: Frequently Encountered Issues

One common error that frequently occurs during the enrollment process of new employees is with members who already have an existing ASRS account and need to enroll with their new employer. They often log into their account first, then attempt to complete enrollment. Note that the instructions do not advise these employees to log in first. The employee should simply click on the "First Time Registering?" link that is located at the bottom of the login screen. Logging into an existing account will bypass the enrollment process.

2022 Employer Conference Details

The Employer Relations Team is excited to host the annual ASRS Employer Conference starting on September 7, 2022, via Google Meet. Based on feedback received from the 2021 Employer Conference, ASRS is trying something different this year: virtual conference days that last from 8:00 a.m to 3:00 p.m. that include breakout sessions on topics relevant to your responsibilities. 

Re-Retirees & Ending Payroll Verification Forms

While most retirees who return to work directly with an ASRS employer wait to do so until they can both work and continue to receive their retirement benefit, there are those who choose to or must suspend their benefit and become contributing members again. When they decide to resume receiving a retirement benefit again, they have to re-retire so their benefit can include the additional service they accrued in their recent employment. 

The Importance of Correct Pay Types

When completing online contribution reporting, whether it be web-based or file upload, it is important to use the correct pay types when reporting contributions. Understanding and applying the correct pay type helps the ASRS not only identify what compensation should and shouldn’t be included in the calculation of an employee’s pension benefit, it reduces the delay in processing that can result from having to get clarification from the employer.