For the month of November 2017
|Event||Quantity||Service standard compliance|
|Retirements||64 options provided
69 elections processed
|Pension Estimates||77 estimates provided||100%|
|Terminations||133 notifications of extension of membership (EOM)
44 termination option documents
42 elections processed
|Service Purchase Quotes||42 quotes provided||100%|
News and updates
Strike purchase and in-year update processes
We have just posted a member FAQ about strike purchases, answering common questions about the strike purchase and process
Refer to the following resources for details on the strike purchase process and the in-year reporting options:
- Employer email, November 9
- Employer Update, November 28
- Member email, November 22
- NEW: Strike – Member FAQ, December 5
Be sure to reach out to your Employer PA if you have questions.
We have received a number of questions from employers on specific cases. We are reviewing these issues and will provide additional direction when the review is complete.
Strike purchase webinars
Over the next two weeks, starting this Thursday, December 7, we will be holding a number of webinars on strike service purchases for members. Employers may want to attend these sessions as well. We will talk about the process for purchasing strike service, and things that members should consider when deciding whether to make the purchase. There will be plenty of time for questions during the presentation. Members may want to attend one of the Retirement Planning webinars as well.
Member newsletter launches today
We will be sending the Member Newsletter today. If you are a member-direct employer, members will receive the Newsletter directly in their inbox, from the Plan. Otherwise, you will receive an email to pass along to your employees who are members of the Plan.
The following spreadsheets on our website have been updated to reflect the 2018 rates:
- PA Batch calculation spreadsheet
- OTRFT Annualized contributions spreadsheet – standard FTE
- OTRFT Annualized contributions spreadsheet – FTE by job group
- All the Annualized Contributions spreadsheets
- Pension application smart form
January pension starts – off-cycle run
We will be processing an “off-cycle” pension run to set up as many pensions as possible by the end of the year. Payment will be made on January 2, 2018 for completed information received by December 15 at 3 pm.
Reminder - Employer Attestation and 2017 training record
We are updating the 2017 training records with the information you sent to your Employer PA. If you have not done so already, please confirm the information with your Employer PA.
The 2017 Attestation forms will be sent to College Presidents and employer CEOs during the second week of January.
More information on the Employer Attestation of Administrative Compliance is available here.
- December 15 - Afternoon Staff Event
Holiday Closure Starts
- December 25
- January 2
Employer Education Session
- January 11
Invitations for the employer updates and educations sessions will be sent out approximately two weeks prior to the scheduled date.
Booking a presentation
We are currently scheduling sessions for 2018. If you’re interested in organizing a member presentation at your college, please contact your PA or Sylvia Golebiowski, Lead, Pension Education, firstname.lastname@example.org.