This notice is to advise you that the Department of Retirement Systems (DRS) has created a new report called Monthly Transmittal Summary. The new report is now available in eServices.
This information can be accessed by the main DRS contact in your organization. If additional people in your organization need access you can contact us at email@example.com.
To assist you in accessing and running this report, DRS has prepared an eight-page instructional guide. For reference, this guide can be found in the Forms and Publications area of the Employers section under Resources > eServices.
Why is DRS providing this information?
DRS developed this tool to assist employers in implementing new pension standards established by the Governmental Accounting Standards Board (GASB). (See DRS Email 13-015, New GASB Standards)
GASB Statement 68 will change the financial reporting of participating state and local governments that prepare GAAP compliant financial statements beginning in fiscal years commencing after June 15, 2014 (i.e., fiscal years ending June 30, 2015, or later).This new report will help you confirm the employer contribution amounts that DRS processed for each of the retirement plans in which you participate. Additional information to assist you in implementing GASB 68 will be provided in the upcoming months.
If you have any questions or need assistance in accessing these reports, please email firstname.lastname@example.org or call Employer Support Services at 360-664-7200 option 2, or 800-547-6657, option 6, option 2.