DRSN 09-018, New Process for Annual Statements Distribution

DRS Notice

  • Notice No.: 09-018
  • Date: September 29, 2009
  • Applies to: Educational Employers
  • Subject: New Process for Annual Statements Distribution

Department of Retirement Systems (DRS) would like to thank you for all of your support and hard work over the years distributing the Annual Statements to members. In addition, we have some exciting news to share. As an ongoing effort to provide expanded services to our members, DRS will be providing online access to members to view their annual statement information. Members will be able to access their own account information at their convenience, 24 hours a day, seven days a week! This new service will be available by the end of this year.

During this transition, DRS will mail the 2009 Annual Statements directly to each member’s home in November. This will be the last time paper statements will be distributed. An insert will be included explaining that the new online service will replace their paper statement.

Annual Statements will be mailed to active members of the following retirement systems:

  • Public Employees’ Retirement System (PERS)
  • School Employees’ Retirement System (SERS)
  • Teachers’ Retirement System (TRS)

It’s a good time to remind your employees to make sure their address information is correct and up to date. It’s also important to ensure that you have provided DRS with separation dates for any employees who no longer work for you, including any substitutes that have not worked for you during the 2008/2009 school year. Any address changes/separation dates submitted through the transmittal process or WBET by October 23, 2009 will be included.

The following account information appears on the annual statement:

  • Service credit information for 2008-2009 school/fiscal year;
  • Total service credit;
  • The TRS Plan 1 members’ retirement contributions posted by DRS from July 1, 2008 through June 30, 2009, (this generally corresponds to contributions for the transmittal reporting periods from June 2008 through May 2009) and the total contributions and accumulated interest in the members’ account;
  • The PERS Plan 1 and SERS/TRS Plan 2 members’ retirement contributions posted by DRS from September 1, 2008 through August 31, 2009 (this generally corresponds to contributions for the transmittal reporting periods from August 2008 through July 2009) and the total contributions and accumulated interest in the members’ account.
  • Plan 3 members will receive service credit information only. The Plan 3 members’ contribution information is reported to them quarterly by the ICMA Retirement Corporation.

If a member has not received their annual statement by the end of the year, please refer them to the DRS customer service line at (360) 664-7000 or 1-800-547-6657.

Questions?

If you have any questions regarding this DRS Notice, please contact Employer Support Services at (360) 664-7200, option 2, or 1-800-547-6657, option 6, option 2; or email us.


George Pickett
Assistant Director of Administrative Services

Communications