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Content Type: ASC_Announcements
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Last modified at by
Date8/25/2011
AnnouncementRetirement Plan Enrollment For Many Employees is Now Automated
Description

Effective immediately, new automation eliminates the manual entry formerly required to enroll eligible new hires and rehires in retirement plans.  This applies to new hires and rehires in the Arkansas Public Employee Retirement System (APERS) and the Teacher Retirement System (TRS).  It also applies to rehired retirees and T-DROP employees in TRS. 

 

With this improvement, completion of transaction PA40 (Actions) automatically produces the following results:

 

·         For new hires or rehires, an infotype 0169 (Savings Plan) record is created for the appropriate contributory plan, either APERS or TRS.

·         For rehired retirees, an infotype 0169 record is created for the TRS rehired retiree ER contributory plan when the infotype 0001 (Organizational Assignment) contract field reflects the option TRS Rehired Retiree.

·         For T-DROP employees, an infotype 0169 record is created for the TRS T-DROP plan.

 

Due to the variety of options offered to their employees, agencies assigned business areas 0520, 0534, 0552, 0582, 0590, or 0700 must continue to enter enrollments manually.

 

As a reminder, if a newly hired or rehired employee was previously enrolled in the APERS non-contributory plan and meets the requirement to remain in that plan, the agency would be required to change the retirement plan using the following steps:

 

1.    Execute transaction code PA30.

2.    Enter the employee's personnel number.

3.    Select Savings Plans (IT0169).

4.    Select the Change icon.

5.    Select the correct retirement plan from the drop-down list in the Benefit Plan field. 

6.    If applicable, remove the employee percentage by selecting the Regular contrib tab and deleting the value from the percentage field.

7.    Select the Save icon.