Retirement Monitor - November 2018

<p>In this issue:</p> <p>ORBIT Employer Reporting Reminders; Correcting Employer Errors for the 2018 myNCRetirement Statement: The Time is Now!; Contribution Summary Instructions &ndash; Certification Reminders; Online Retirement is Here; Changes to Short-term Disability; Amended Short-term Disability Employer Reimbursement Policy; New Legislation in Effect for Short-term Disability Filing Period; Retirement Counseling; Virtual Counseling Sessions Now Open for All Members within One Year of Retirement​; Kudos!​</p>

Retirement Monitor header

 

 

 

 

 

Table of Contents

ORBIT Employer Reporting RemindersORBIT logo

Correcting Employer Errors for the 2018 myNCRetirement Statement: The Time is Now!

RSD is currently preparing 2018 myNCRetirement Statements (MRS) for active employees who contributed to their retirement system account before December 31, 2018.

To help us generate accurate MRSs for your employees, please respond to your Employer Reporting Team representative promptly when your monthly report has an error so that any issues can be addressed and necessary adjustments can be processed as soon as possible. Otherwise, your affected employees will not receive a 2018 MRS; instead, they will receive a letter notifying them that reporting errors prevented us from creating their MRS.

As a reminder, you can now access monthly ORBIT Error Reports on our website:

  1. Log in to ORBIT as an employer
  2. Under the Reporting options, select “Report Viewer”
  3. Select the “Employer Reporting” report type
  4. Select the report titled “Detail Records in Error by Agency and Report Month – Self Service”
  5. Select the “Report Month” and “Report Year”
  6. The “Exception Type” and “Source of Entry” are auto-populated and cannot be changed
  7. Select the Export Type you desire, and your report will be exported as either a .pdf file or Excel spreadsheet

You can now check your monthly ORBIT errors as soon as your report has posted. You may save this report and add your responses on how to correct the Error Message, and then email the report to your ORBIT Employer Reporting Team representative. Your representative will correct these records in error status according to your written instructions. 

All outstanding ORBIT reporting errors should be submitted no later than December 31, 2018. Failure to provide a timely response may result in either an incorrect or missing myNCRetirement Statement for your employees!

Not sure who your Employer Reporting Team representative is or have other questions? Call 877-627-3287.

Contribution Summary Instructions – Certification Reminders

The amount an agency certifies on their monthly ORBIT Contribution Summary Instruction (CSI) Report must be the same as what is sent to the Retirement Systems Division through the bank transaction. Agencies who fail to ensure that the correct contribution amount is sent to the Retirement Systems may be subject to a penalty and/or an audit by RSD.

Tips to Avoid Late Fees

  • Review and adhere to the Schedule for Submitting Contribution Summary Instructions (CSI).
  • If you experience a technical issue, we may be able to help you avoid late fees. Please contact a member of the ORBIT Employer Reporting Team as soon as possible at 877-627-3287 for assistance.

Late Fee Waiver Request

Employers can request a formal review of their penalty invoice by sending a letter on letterhead explaining the circumstances that led to the late submission and subsequent fee. The letter should be sent to the attention of Retirement Payroll Services by fax at 919-855-5801 or by mail at 3200 Atlantic Avenue, Raleigh, NC 27604.

For more information about ORBIT Reporting, please visit our Employers ORBIT Information web page.

 

 

Online retirement here

 

 

 

 

Changes to Short-term Disability ​​​​

Amended Short-term Disability Employer Reimbursement Policy     

In the 2018 Financial Accountability, Integrity, and Recovery Act, the General Assembly amended the state law regarding short-term disability employer reimbursement. Currently, employers are responsible for administering and paying for disability income payments and health insurance premiums and are then reimbursed those costs for eligible employees during the second six months of the short-term disability benefit period. These costs are paid out of the Disability Income Plan of North Carolina (DIPNC) trust fund. Employers continue to be responsible for administering and paying for short-term disability benefits and health insurance premiums, but based on this legislative change, employers cannot be reimbursed for any short-term disability benefits that begin on or after July 1, 2019.

Please see this DIPNC Employer Reimbursements page for an analysis of the DIPNC employer reimbursements for costs incurred during the second six months of the short-term disability benefit period as provided for in G.S. 135-105(d). This analysis is unaudited and provided for informational and budget planning purposes only and is based solely on data transmitted by employing agencies to the Retirement Systems Division during fiscal years 2014 through 2018.

New Legislation in Effect for Short-term Disability Filing Period

Members wishing to file an application for short-term disability through DIPNC must do so no later than 365 days following the first day of the 60-day waiting period.

To avoid missing the short-term filing period, employees should apply for short-term disability as soon as possible, even if they are receiving Worker’s Compensation benefits, taking a Family Medical Leave of Absence, receiving salary continuation payments or exhausting leave.

 

Virtual Counseling Sessions Now Open for All Members within One Year of RetirementRequest appointment through ORBIT

The Member Services team of RSD began offering virtual appointments in 2017 for members within one year of retirement who live more than two hours away or are disabled. Now, ANY member within one year of retirement can schedule one! Email us at NCRetirement@nctreasurer.com to schedule your Virtual Counseling Session. To help us identify your request more quickly, please put “Virtual Counseling” in the subject line of your email.

 

 

Kudos!

November Employer Kudos

 

 

This blog is related to: