What: Any employer with a forfeiture balance will now see that as a funding source when reporting to MERS.
Action Required: No
Key Dates: 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.
For More Information: MERS Service Center – 800.767.6377
- 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