Employer News

Attempted Wire Fraud via Email Requests  

We have received reports of fraudsters sending payment requests and requests to update payment instructions from email accounts that appear to be from inside a clients' organization or from a known external partner. The fraudulent "from" email address is typically a slight variation on the legitimate email address, which can trick the recipient into believing the fraudulent communication is legitimate.  

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 Message from PSERS  

Remember that in order for PSERS to update your banking information and authorized users for making payments to PSERS, all schools are required to complete the Authorization Agreement for Restricted (ACH) Debits form (PSRS-610).  This protects schools from fraudulent changes to banking information and authorized users.


Employer Workshop

The Employer Workshops for Spring 2014 have come to conclusion.  If your schedule didn’t permit you to attend or you would like to review any information covered during the session, please click on the links below:



 

2013 Premium Assistance Verification

The Premium Assistance Verification will commence this week as reports are being mailed to the Business Managers of Commonwealth School Employers.  As in the past, these listings represent the monthly Premium Assistance payments made to retirees as a reimbursement of premiums paid to your health insurance plan for their personal coverage.  The Internal Revenue Service requires PSERS to verify that premiums were actually paid by retirees receiving this reimbursement.  PSERS is requesting that employers verify premiums paid during the 2013 calendar year.  In order to ensure there is no interruption in Premium Assistance to your plan participants, please complete and return the report to PSERS by March 31, 2014.  Calls regarding the 2013 Premium Assistance verification should be directed to the Premium Assistance Unit at 1.866.483.5509. Your assistance in verifying these payments is greatly appreciated.


Employer Contribution Rate for Fiscal Year 2014-2015

The employer contribution rate for fiscal year 2014-2015 will be 21.40%. The rate applies to salary and wages earned from July 1, 2014, through June 30, 2015. This rate was determined by PSERS’ actuary and reflects the rate caps established by Act 120 of 2010.   The rate was certified by PSERS Board of Trustees at its meeting on December 10, 2013.   In addition, the employer contribution rate may change if pension legislation is enacted prior to June 30, 2014. The employer contribution rate for fiscal year 2014-2015 consists of 20.50% for pension costs and 0.90% for premium assistance payments. The projection for the employer contribution rate for fiscal year 2014-2015, prior to the rate caps being established with Act 120 of 2010 was 33.83%

 

 

 

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