Reemployment Changes and Contribution Rates

ERCE Newsletter

June 2019
Employer Reporting, Compliance & Education


Reemployment Law Changes

Reemployment law changes enacted with House Bill 55, House Bill 381, House Bill 419 and Senate Bill 162 are effective June 27, 2019. Senate Bill 1, effective March 11, 2019, also included reemployment changes. Read More

Please note that as part of these changes, the certification section of the Form 6000, Notification of Retirement, has been modified. Members should visit our website to access forms and additional information about reemployment after retirement. Read More
 
We are currently updating our employer procedures and will send a newsletter with additional information in the coming weeks. We will publish updated information on the employer section of our website when available. Read More

 

Contribution Rates

Employer contribution rates for fiscal year 2020, effective July 1, 2019, are published on our website. Effective July 1, quasi-employers will pay the same 83.43% employer contribution rate as other KERS non-hazardous employers unless legislation is enacted changing the quasi-employer contribution rate.
Read More

 

Member Pension Spiking Quick Guide

We have had several employers incorrectly complete Form 6487 – Member Pension Spiking Exemptions. A Form 6487 that is incorrectly completed can cause a retiree to not receive the full value of the exemption amount and postpone the timeframe of your employee recouping full retirement payments. We have created a step by step guide to assist you in completing the Form 6487 as quickly and accurately as possible. Read More

 

Sick Leave Cost Calculator

If your agency participates in the Standard Sick Leave program, you can take advantage of the sick leave cost calculator in Employer Self Service. You can find this calculator under the Services menu. This budgeting tool can be used for any employee within five years of retirement eligibility. The calculator can also be used for a retiree if a sick leave invoice has not been issued and if the retirement date is not before January of the prior year. For example, the calculator could be used today for retirement dates on or after January 2018 if a sick leave invoice has not been issued.
 
The calculator results are based on an employee’s estimated future earnings and the retirement and sick leave information you enter.  When an official sick leave invoice is issued, KRS applies the employee’s actual service, sick leave hours, and salary information on file at KRS when the employee’s retirement is processed.  This may cause the invoice amount to differ significantly from the estimated cost.

View the Standard Sick Leave Invoice Video

 

Register for Training

The Divisions of Member Services and Employer Reporting, Compliance & Education are partnering again this year to offer Reporting Official training with the Pre-Retirement Education Program (PREP). Read More

 

Employee Update

On June 20, 2019, KRS began mailing Form 2035, Beneficiary Designation, with the Member Welcome Letter requesting that new members complete and return the form to our office. Read More

 

Questions?

If you have questions, please contact our office at 1-888-696-8810.