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Sunday, November 23, 2014

Terminations & Retirements

Do you have an employee who is leaving your municipality? Whether it’s for retirement or any other reason, it’s important you notify us of their change in employment status when you submit their last payroll information. It’s important we receive this information in a timely manner to ensure the employee receives their reimbursement packet, detailing how to use their account.

When you report an employee’s termination date through the MERS Employer Portal, it serves as your authorization for MERS to process any reimbursement requests by the employee.

Terminations should be reported for any of the following reasons:

  • Terminated from employment
  • Retired
  • Terminated due to disability
  • Employee has died

Click the links below for specific instructions based on the MERS program. You’ll need to complete the termination process for every applicable program. If you have questions, please contact us at 800.767.2308.

Defined Benefit Plan  •  Defined Contribution Plan  •  Hybrid Plan  •  Health Care Savings Program  •  457 Program  •  Group Life & Disability

 

MERS Defined Benefit Plan

To terminate an employee in the MERS Defined Benefit Plan:

  1. If they are retiring, have them complete and sign the Application for Service Retirement and return it to us 45-90 days before their retirement date. You will also need to sign their Certificate of Termination, which they return to us.
  2. When you report their final wages, change their employment status by logging in to the MERS Employer Portal.
  3. Click ‘Defined Benefit’ under the ‘Reporting’ tab.
  4. Click ‘Prepare Reports’ under the ‘Wage Reporting’ tab.
  5. Click ‘Search for Member,’ and then click on their name.
  6. Change their employment status to ‘Terminated’ followed by the appropriate reason (i.e., ‘Retired’).
  7. Repeat this process for any other MERS programs the employee has.

Click here for employee information about the retirement process.

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MERS Defined Contribution Plan

To terminate an employee in the MERS Defined Contribution Plan:

  1. When you report their final contributions, change their employment status by logging in to the MERS Employer Portal.
  2. Click ‘Defined Contribution’ under the ‘Reporting’ tab.
  3. Click ‘Prepare Reports’ under the ‘Wage Reporting’ tab.
  4. Click ‘Search for Member,’ and then click on their name.
  5. Change their employment status to ‘Terminated’ followed by the appropriate reason (i.e., ‘Retired’).
  6. Repeat this process for any other MERS programs the employee has.

Click here for employee information about the retirement process.

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MERS Hybrid Plan

To terminate an employee in the MERS Hybrid Plan, you must complete the processes for both Hybrid Part I and Part II:

  1. If they are retiring, have them complete and sign the Application for Service Retirement for Hybrid Part I and return it to us 45-90 days before their retirement date. You will also need to sign their Certificate of Termination, which they return to us.
  2. When you report their final wages and contributions, change their employment status by logging in to the MERS Employer Portal.
  3. Click ‘Defined Benefit’ or ‘Defined Contribution’ under the ‘Reporting’ tab.
  4. Click ‘Prepare Reports’ under the ‘Wage Reporting’ tab.
  5. Click ‘Search for Member,’ and then click on their name.
  6. Change their employment status to ‘Terminated’ followed by the appropriate reason (i.e., ‘Retired’).
  7. Repeat this process for both parts of the Hybrid Plan, as well as any other MERS programs the employee has.

Click here for employee information about the retirement process.

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MERS Health Care Savings Program

To terminate an employee in the MERS Health Care Savings Program:

  1. When you report their final contributions, change their employment status by logging in to the MERS Employer Portal.
  2. Click ‘Health Care Savings Program’ under the ‘Reporting’ tab.
  3. Click ‘Prepare Reports’ under the ‘Wage Reporting’ tab.
  4. Click ‘Search for Member,’ and then click on their name.
  5. Change their employment status to ‘Terminated’ followed by the appropriate reason (i.e., ‘Retired’).
  6. Repeat this process for any other MERS programs the employee has.

Click here for employee information about the retirement process.

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MERS 457 Program

To terminate an employee in the MERS 457 Program:

  1. When you report their final contributions, change their employment status by logging in to the MERS Employer Portal.
  2. Click ‘457’ under the ‘Reporting’ tab.
  3. Click ‘Prepare Reports’ under the ‘Wage Reporting’ tab.
  4. Click ‘Search for Member,’ and then click on their name.
  5. Change their employment status to ‘Terminated’ followed by the appropriate reason (i.e., ‘Retired’).
  6. Repeat this process for any other MERS programs the employee has.

Click here for employee information about the retirement process.

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MERS Group Life & Disability

To terminate an employee in the MERS Group Life & Disability program:

  1. Log into the AdminEASE portal on our website.
  2. Follow the instructions to terminate an employee.
  3. Repeat this process for any other MERS programs the employee has.

If you have questions about terminating employees in the Group Life & Disability program, please call 800.378.2396. 


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Disclaimer
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).