for Employers of Maine Public Employees Retirement System
JANUARY 2008
MAINEPERS GROUP LIFE INSURANCE -- More Coverage at Better Rates
On April 1, 2008, MainePERS Group Life Insurance premiums for supplemental rates will be more attractive for many eligible participants. MainePERS is shifting to age-based supplemental rates. April 1st is also when employers make any group life insurance participant level changes based on annual compensation. Supplemental rates are for coverage in addition to the Basic level of group life insurance. Eligible participants can purchase additional coverage in amounts of up to three times their Basic level of coverage. For an employee earning $30,000, Supplemental 3 coverage means an additional $90,000 of coverage or $120,000 total group life coverage.
The cost for purchasing this additional $90,000 of coverage depends on the person's age and Employer Plan. Click here for additional information on group life insurance and age-based supplemental rates. MainePERS Group Life Insurance participants who wish to increase their supplemental coverage may contact the MainePERS Survivor Services unit by phone or e-mail to start the Evidence of Insurability (EOI) process.
Phone: 207-512-3244
2008 EMPLOYER TRAINING
MainePERS offers training for payroll personnel at our main office in Augusta. Both the full and half-day trainings cover forms and reporting requirements. The full-day training also includes an overview of MainePERS Retirement, Disability, Group Life Insurance, Survivor Benefits and Deferred Compensation.
To register for one of our Wednesday training sessions, contact the Employer Services Unit at (207) 512-3200,
or toll-free at 1-800-451-9800. Full-day trainings are from 8:30am - 3:00pm and half-day trainings are from
8:30am - 1:00pm.
Teacher and School Support Employers Participating Local District Employers Half Day Training Half Day Training February 13, 2008 February 27, 2008 May 14, 2008 May 28, 2008 August 6, 2008 August 20, 2008 November 19, 2008 October 22, 2008 Full Day Training Full Day Training April 16, 2008 March 12, 2008 July 30, 2008 June 11, 2008 October 15, 2008 September 17, 2008 November 12, 2008
2008 PAYROLL REPORTING DUE DATES
Employer payroll reports and payments for defined benefit plans are due no later than 15 days after the end of each month. The due date is advanced to the next business day in instances when the 15th of the month falls on a weekend or holiday. The due dates for 2008 are:
Report & Remittance Due
January 15, 2008 August 15, 2008 February 15, 2008 September 15, 2008 March 17, 2008 October 15, 2008 April 15, 2008 November 17, 2008 May 15, 2008 December 15, 2008 June 16, 2008 January 15, 2009 July 15, 2008 REPORTING REMINDERS Every six months, your MainePERS
Employer Services Technician will send a summary of common reporting inconsistencies.Teacher employers received their first round of communications in November 2007. PLD employers will receive their first round in March of 2008.
MONTHLY STATEMENTS
Employers who have debit or credit balances with MainePERS receive monthly statements. In 2008, MainePERS will begin automatically applying employer credits to existing debits. In addition, debit and credit memos will be included with the monthly statement. Look for this change on the February statement.
Hiring MainePERS Retirees
Certain restrictions apply to MainePERS members who retire before Normal Retirement Age (NRA) and return to work for the “same” employer.
State or teacher retirees returning to work for the “same” employer means employment in any position covered under MainePERS State/Teacher plan For Participating Local District (PLD) retirees, “same” employer means employment in a covered capacity with any PLD employer in the Consolidated Plan. This standard also applies to PLD retirees who retire from and return to work with a PLD that is not part of the Consolidated Plan.
When hiring a MainePERS retiree who is below Normal Retirement Age please keep the following in mind:
• Employees must terminate employment in order to receive a retirement benefit.
• Employers cannot discuss rehiring the prospective retiree prior to termination.
• Retirees may not return to work in a MainePERS covered position for at least 30 calendar days after
retirement, or before the effective date of their retirement.• Retiring employees must certify to MainePERS that they have met all these requirements.
Retirees working in a MainePERS covered position who are below their NRA must meet the following conditions:
• Services are intermittent, on-call or in a non-permanent, interim assignment.
▪ Employer’s ordinary business operations depend on the services
▪ Services do not exceed 60 days in one year. “Year” is the calendar, fiscal or school year
that is basis for payment. A day for hourly employees is eight hours; and one day if they
are paid on a per diem basis. A day is one full-time work day if pay is based on an annual
rate. Each stipend position (e.g. athletic coach) is considered 60 work days.MainePERS employers must establish whether any employee is a retiree returning to work and report the earnings. Failure to comply with these requirements may result in a $300 penalty for each instance of noncompliance. Please contact Employer Services for further details on reporting retirees returned to work.
MainePERS Employer Reporting working group
The Employer Reporting Working Group held their first meeting in November. The group includes both Teacher and Participating Local District (PLD) employers of varying sizes. Work in 2008 will focus primarily on reporting and training needs in preparation for a new benefit administration system with meetings held on a quarterly basis.
