Top Ten MOSERS Topics

Transcription

1 Top Ten MOSERS Topics Presented by JoAnn Looten & Pam Palmquist September 3, 2014 Discussion Topics Social Media HR Update and Employer Secure Access New HR Staff Training Procedure Manual PreRetirement Seminars Money Matters Workshops Life Insurance Workplace Possibilities Retiree Sick Leave Benefit Eligibility MSEP 2011 Refunds New Hires vs Transfers Before After 1

2 HR Update and Employer Secure Access You must sign up for the HR Update to receive information regarding MOSERS benefits Updates at least monthly address change? Cancel old subscription and sign up for your new subscription Enrolled automatically with request for employer secure access Tell all new HR employees to sign up! New HR Staff Training Individual training offered to employers as needed any time during the year At MOSERS facility or yours Call JoAnn Looten to request training Procedure Manual Copy provided at Benefits U Available online Look for revisions with focus on electronic forms 2

3 PreRetirement Seminars Over 60 sessions each year throughout the state $10 advance registration online (or by mail) Session materials Certificate of attendance/completion Lunch Members may attend unlimited sessions HR attendance at no cost (must register in advance) Schedule and registration information online and in print (brochure and poster) PreRetirement Seminars Daytime and Evening Sessions Available Daytime session includes lunch Morning dedicated to MOSERS benefits Afternoon speakers include Deferred Comp, MCHCP, and Social Security Evening session includes box dinner MOSERS information only Money Matters Workshops Changes coming in

4 Annual Life Insurance Review SALARY VERIFICATION REPORT* DUE SEPTEMBER 4, 2014 Log in to employer secure site Select Salary Verification Report *This allows MOSERS to determine the correct amount of life insurance coverage for your employees Annual Life Insurance Review Information ed out end of September No proof of insurability required For MEMBERS with Optional Life coverage Proving Insurability Online Immediate decisions now available from The Standard Must also complete Enrollment/Change Optional Life Insurance form Family status changes no proof 4

5 Travel Assistance Security That Travels With You Do not have to enroll Any member covered with Basic Life Wallet card available on MOSERS website Pre-Trip and Trip Assistance Medical and Legal Assistance Emergency Transport Services Workplace Possibilities Eyes-on-Site flyer and exercise band Specialize in identifying issues well before turning into disability claims 337 Stay at work claims Only 6 of which filed for LTD Debbi Cross, WP Coordinator (913) Debbi.Cross@standard.com Retiree Sick Leave Report 5

6 Benefit Eligibility March 2014 State Auditor conducted audit of Reemployment of State Retirees May 2, 2014 we issued letter regarding Benefit- Eligible Positions/Rehiring Retirees (Special HR Update) Must answer yes to both questions Position must be Ongoing or Permanent Normally work not less than 1,040 hours/year. If you hired me would I receive benefits? MSEP 2011 Two forms available for active and deceased 90 day waiting period processed weekly Do not apply if applying for LTD One letter sent to members after 90 days Refunded service can be re-purchased 1 year after returning to work with interest due with interest MSEP 2011 (as of July 2014) 12,849 Active, Leave or Disability 2,092 Terminated - Refunded 5,100 Terminated No Refund 38 Deceased 38 Took refund and are back at work 20,049 Total MSEP 2011 members 6

7 New Hires vs Transfers Are the benefits the same at both places of employment? Did the employee miss a full calendar month of payroll? Yes New Hire (SEBES) No -Transfer Value of Defined Benefit Using an average benefit of $1508 per month Projected Lifetime Benefits Paid would be: 20 years = $361, years = $452, years = $542, years = $633,360 What Does That Mean to me? 20 years = $361,920 w/2% COLA $ 466, years = $452,400 w/2% COLA $ 609, years = $542,880 w/2% COLA $ 766, years = $633,360 w/2% COLA $904,700 7

8 $772, Questions? 8