When an ASRS member applies for retirement or a refund of contributions, the ASRS may be required to request an Ending Payroll Verification Form (EPV) from our employer partners to where the member has made contributions.
For retiring members, the ASRS will generate an EPV request to all employer partners that remitted contributions within the last 36 months. For refunding members, the EPV is generated for all employer partners that remitted contributions within the last 6 months.
When a member has met the age required for a minimum distribution under the Internal Revenue Code, the ASRS is required to determine if this member is still employed, regardless of their contribution status. The ASRS does this by generating an EPV to the last employer that remitted contributions, even if it was over 30 years ago.
Here at the ASRS, we understand that it is unlikely for an employer partner to keep records of former employees beyond 7 years. Luckily, these types of EPVs are very easy to complete. When an employer partner receives an EPV, and there are no records for the member, all they have to do is check “Not Applicable”. Then, in the Notes and Comments to ASRS box, simply type “We no longer have records for this former employee”. This allows ASRS to confirm that the member is not employed, even though our employer does not have a termination date to provide.
The number one cause of payment delays for refunding members is a missing EPV. We understand there may be reasons why an EPV may not be completed due to payroll processing and researching information. What we don’t want is an EPV to go unsubmitted due to a lack of information. If you have an EPV that you are having difficulty completing, please send a secure message requesting assistance. The Employer Relations Team at ASRS has access to information and is very knowledgeable about relevant resources.
by Aaron Bernardino, Employer Relations
