Category Archives: Employer

Notice No.: 23-014Date: October 02, 2023Applies to: All EmployersSubject: DRS Notice 23-014, Repeal of Stricter Return to Work Rules for 2008 ERF Retirees Starting Jan. 1, 2024, there will no longer be different rules for retirees returning to work who retired using the 2008 Early Retirement Factors (2008 ERFs). This is a result of SHB…

Notice No: 23-013Date: September 28, 2023Applies to: Local Government and School District EmployersSubject: DRS Notice 23-013, Public Service Loan Forgiveness (PSLF) Eligibility Letters The Public Service Loan Forgiveness program is available for your employees. With PSLF, your employees can have their federal student loan debts forgiven after making payments for 10 years while working for…

Notice: 23-012Date: Sept. 7, 2023Applies to: All DCP EmployersSubject: DRS Notice 23-0012, Reporting Training Available for DCP Roth We’ve entered the final weeks before the DCP Roth option starts October 1. A few important pieces of information: Employer reporting training Now that you’ve had the opportunity to attend a Roth Education Session overview, it’s time…

Notice No: 23-011Date: September 05, 2023Applies to: DCP EmployersSubject: DRS Notice 23-011, Annual Limits for DCP Reminder Some of your employees may be approaching the annual limit for DCP contributions in 2023. Please review your prior DCP Report for this warning message:  “Employee’s deferral total is nearing the IRS yearly maximum {amount given}” and ensure…

Notice No: 23-010Date:     August 28, 2023Applies to: LEOFF EmployersSubject:    DRS Notice 23-010, Reporting of Non-LEOFF Employer Contributions (NLEC) Employer pickup of state contributions on LEOFF Plan 2 non-employer services The 2023-2025 state operating budget extended a provision for LEOFF Plan 2 employers. The provision holds employers responsible for funding both the employer and state…

Notice No: 23-009Date: 7/24/23Applies to: All EmployersSubject: DRS Notice 23-009, Contribution Rate Changes for PERS, PSERS, SERS, TRS, LEOFF and WSPRS Pension contribution rates The contribution rates presented in the chart below become effective Sept. 1, 2023. The 2023 legislative session made contribution rate changes based on passage of the following bills: Administrative rate change…

Notice No: 23-008Date: 7/21/23Applies to:  State Agencies, Institutions of Higher EducationSubject: DRS Notice 23-008, Retiree Return-to-Work (RRTW) Rule Changes per SSB 5538 Retirees of the Public Employees’ Retirement System (PERS) and Public Safety Employees’ Retirement System (PSERS) can return to work in a non-administrative, licensed nursing position at a state agency or institution of higher…

Notice: 23-007Date: July 6, 2023Applies to: All DCP EmployersSubject: DRS Notice 23-007, Preparing for October DCP Roth Option Effective October 1, DCP will include a Roth option.  Customers will be able to choose between pretax and Roth contributions, or a combination of both when saving through DCP. Pretax contributions are made before taxes, and tax…

Date:   June 30, 2023Notice: 23-006Applies to: All EmployersSubject: Understanding and reporting accurate separation dates for your retiring employees is crucial. To separate from service means a member has terminated all employment with their employer (WAC 415-02-115). The separation date is the last day the employee worked or was on leave such as vacation, administrative or…

Date:   May 24, 2023Notice: 23-005Applies to: All EmployersSubject: DRS Notice 23-005, Contribution Rate Changes for PERS and PSERS Pension contribution rates The contribution rates presented in the charts below are effective July 1, 2023. Following the 2023 legislative session and based on the passage of ESSB 5294 – Concerning actuarial funding of state retirement systems,…