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Tuesday, December 11, 2018

Administrative and Policy Change Log

Here you will see a list of Admin and Policy changes.

18

Posting Date: October 18, 2018

Action required: No

What: Any employer with a forfeiture balance will now see that as a funding source when reporting to MERS.

Key Date(s): This new funding source will appear in the Employer Portal effective Friday, October 19, 2018.

Impacted audiences: Municipalities with a MERS Defined Contribution Plan (including DC Plus and the defined contribution portion of the MERS Hybrid Plan), Health Care Savings Program or 457 Program who have a forfeiture balance from terminated employees.

Key information:

  • Based on customer feedback, municipalities with a forfeiture balance will now have the ability to use that balance as a funding source when reporting to MERS

  • Check, wire and ACH will continue to be offered as funding sources.

Resources Available: Wage, Contribution, and Employer Portal Guide

 

For more information, contact: MERS Service Center – 800.767.MERS (6377)

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The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).