Employer News | February 2014

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Upcoming Seminars



Audit Section
(907) 465-5707

Financial Education and Advice Services
(800) 232-0859

Member Services Counseling Services
(907) 465-4460

Member Services Contact Center
(907) 465-4460

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February | Volume #103

Financial Condition of the Retirement Systems

State Seal with Borders

Each year, the Alaska Retirement Management Board (ARMB) must report on the financial condition of the state’s retirement systems. Per Alaska Statute 37.10.220(a)(13), this report must be given to the governor, the legislature, and the individual employers participating in the state’s retirement systems.

This letter from Department of Revenue Commissioner, Angela Rodell (who is also a trustee on the ARMB), directs you to the location of audited financial statements, information on performance returns on each system, asset allocations, investment guidelines, policies and procedures, as well as monthly and year-to-date financial reports.

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What to Expect During FSLG Examination

Audit Checklist

If your agency undergoes an examination conducted by the Federal, State & Local Government (FLSG) branch of the IRS, the following resources can help you become more familiar with what to expect:  

  • New Guides to the FLSG Exam Process: Flowcharts that illustrate the steps of an examination
  • FLSG Compliance Program: Information about the purposes of compliance checks and examinations, and the difference between them  
  • What Occurs During an Examination: Information about what a government entity can expect during an examination, including the types of questions asked during an examination, the kinds of information requested, and possible outcomes of an examination

Don’t forget, if you need assistance, you can contact the Audit Section of the Division of Retirement and Benefits at (907) 465-5707.

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IRS Office of Indian Tribal Governments Workshop

Retirement Seminar 4

The office of Indian Tribal Governments at the Internal Revenue Service is offering a three-day Basic Employment Tax Workshop:

  • April 1 through April 3, 2014
    8:30 a.m. to 4:30 p.m.
    949 East 36th Avenue
    Anchorage, AK 99508

This session is open to political subdivisions of the State of Alaska.

Items on the agenda for the workshop include:

  • Defining employees vs. independent contractors
  • Computing the correct taxes for payroll
  • Completing form 941 quarterly employment tax return
  • Making federal tax deposits
  • Due dates on tax returns
  • Completing forms W-2/W-3 and 1099/1096
  • Reconciling forms 941 and W-2 at year end
  • Avoiding penalties
  • Meeting rules for an accountable plan for per diem & travel reimbursements
  • Alaska Department of Labor Quarterly Contribution Report

NOTE: The class does not include information on State of Alaska retirement plans and is targeted to new or inexperienced payroll staff.

For information on actual class content and to register please contact Judy Pearson at judy.m.pearson@irs.gov or (907) 271-6664.

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