September 2023


What is Earnable Compensation?



This is one of the most frequent questions from employers when reporting weekly or monthly employee payments and when calculating final payments at an employee’s retirement. Earnable compensation must be reported for employees eligible for MainePERS membership. Payments that are not earnable compensation are not reported to MainePERS. Timely and accurate reporting is essential for ensuring employees receive proper credit for payments received and is a critical part of their retirement benefit calculation.

 

While some payments are straightforward, regular wages, overtime, etc., other payment may depend upon the circumstances, such as longevity pay, administrative leave, etc. To assist employers in determining what is and what is not “earnable compensation”, MainePERS has updated its Earnable Compensation Fact Sheet. The new format seeks to provide guidance on common payments employees receive and whether or not these payments are considered earnable compensation.

 

If after reviewing this guide you continue to have questions about earnable compensation, please contact your Employer Reporting Account Associate for assistance.



REMINDER: Payroll Filing Dates



Payroll filings are due to MainePERS by the fifteenth day of the month following the payroll-filing period being reported. You can upload your payroll file as early as the next day after your last pay date for the payroll month being reported. We encourage you to complete this upload as soon as possible after that last pay date so that we have time to work with you to correct any issues before the filing deadline.

Payroll Filing Dates for 2023

August

September 15,2023

September

October 16, 2023

October

November 15, 2023

November

December 15, 2023

December

January 15, 2024

Employer Training


MainePERS offers a half day Employer Training Session each month via Zoom. The training can provide the basics to new staff or an excellent refresher or opportunity to fine tune your understanding of Employer Self-Service (ESS). Topics include Accessing ESS, Understanding Eligibility and Enrollment, Navigating ESS, and Survivor Services and Group Life Insurance (GLI) Highlights.

 

You may also request training on specific topics or group training for multiple members of your payroll and human resources staff. To register for a training session, request training on a specific topic, or find out more, please contact Employer Reporting at 1-800-451-9800 or by email at employer@mainepers.org.

GASB 68 & GASB 75 Audits


The GASB 68 (defined benefit plans) and GASB 75 (group life insurance) audits will be conducted this fall. Audit reports and schedules should be available by January 31, 2024. BerryDunn, our external audit firm, will reach out to selected employers for “census testing” as part of this process. Census testing is a standard auditing activity in which BerryDunn will request payroll data from you to ensure that it agrees with what is recorded at MainePERS. This data is used for service credit calculations, average final compensation determinations, etc., and ensuring the accuracy of data stored at MainePERS is a key component of the audits. MainePERS notifies employers who have been selected for this audit work prior to contact by BerryDunn.


Digital Signatures with DocuSign




Did you know that MainePERS accepts digital signatures on Pre-Retirement Death Beneficiary and Group Life Insurance Beneficiary forms using “DocuSign?” This digital option allows your employees to complete and submit forms easily, quickly, and securely online. The Employer Forms section of the MainePERS website identifies those documents available through DocuSign. Step-by-step directions are available within the form signing process itself.

 

DocuSign is an option for employees to complete and submit some forms in an electronic format. All forms continue to be available for download and manual completion in paper format with a signature and can be returned to MainePERS via mail or in-person drop-off. 


MaineSTART Defined Contribution Plan


The MaineSTART 457 Deferred Compensation Plan is now available to public school teachers. By joining this program, employers can provide their teachers with an opportunity to participate in another MainePERS offered retirement savings plan. MaineSTART offers both traditional (pre-tax) and Roth (after-tax) accounts. These voluntary programs can help your employees save money to fund their retirement and help secure their financial future. Please contact Gary Emery at (207) 512-3116 or gary.emery@mainepers.org to explore adding the MaineSTART program for your employees. Additional information is available at www.mainestart.org.


MainePERS Online Member Portal

Coming Fall 2023


MainePERS is planning to launch a secure online Member Portal as soon as fall 2023 for active and retired members that will offer convenient access to their MainePERS account information. This online portal will be rolled out in phases over a period of months. Additional details, including how to login, will be provided as each phased grouping is invited to participate.


Participating in the Member Portal is optional. The active members and retirees who choose to register and create a user account will have access to the following:


The ability to see:

  • For active members, the most recent and all available member account statements
  • For retired members, recent and all available disbursements
  • Current beneficiary elections for all applicable benefits (pension, Group Life Insurance)

 

The ability to access, download, and print certain documents from January 2018 forward that MainePERS has received from the member, has sent to the member, or otherwise has on-file in the member’s account, such as:

  • Advice of Deposit detail (Electronic Fund Transfer disbursement details) Refund Application
  • Retirement Application
  • W-4P/W-4R (Tax withholding forms)
  • Member Statements
  • 1099 Tax Forms
  • Group Life Insurance application
  • Preliminary Benefit Letter
  • Benefit Estimates
  • Notice of Retirement
  • Final Benefit Letter
  • Service Credit Purchase - Cost Statements
  • Service Credit Purchase informational letters
  • Refund Statements
  • Benefit Verifications
  • Beneficiary Updates
  • Pre-retirement death benefits selection forms

 

The ability to update:

  • Physical Address
  • Email Address
  • Phone Number
  • Gender

 

The ability to access:

  • Forms
  • Handbooks
  • The mainepers.org website and its services and additional information

 

Nearly every service that will be available through the Member Portal currently requires a phone call or an exchange of correspondence with MainePERS to receive information or complete a transaction. The online portal will provide 24/7 access to a member’s own account information at their convenience.