April 15, 2015

Agenda Group Life Insurance Employer Trainings – available now Levels GLI Estimate Project Leaves of Absence Employer Trainings – available now Regional Trainings V3 version 10 – MainePERS GASB IUUAL Surplus ESS Other

GLI – Levels

GLI – Estimate Project

GLI – Leaves of Absence

Employer Trainings

Regional Trainings

Regional Trainings MainePERS In Brief Employers: MainePERS Membership Life Span Retirement Services Employer Services Disability Social Security Employers: Survivor Services and Group Life Insurance V3/ V10 Update GASB Legislation PLD Specifics

Break Time

V3 version 10 - MainePERS

V3 version 10 - MainePERS Why Now? Improved Functionality Enhanced Security Support for: Newer Browser Versions Other 3rd Party Software

V3 version 10 - MainePERS Current Timeline Kick-off October 2014 First Look December 2014 First Round of Testing March 2015 In-house Instance Expected May 2015 First ESS Work Scheduled to Begin November 2015 Anticipated Go-Live December 2016

GASB

GASB Schedules of ER Allocations as of June 30, 2014 Special Considerations - PLD Consolidated Plan Use of Payroll Credits – IUUAL Surplus Funds Employer Specific Liabilities IUUAL / Payroll Debits Mandatory Costs Plan Changes

GASB Special Considerations – State Employee and Teacher Plan Special Funding Situation State Paid UAL One-time COLA Impact Grant Funded Contributions

GASB Next Steps Draft Schedules to External Auditor Week of April 13th Finalize Schedules and Issue Report Prior to June 30th Distribute Reports www.mainepers.org

IUUAL Surplus Balances

IUUAL Surplus Balances Historically Individual Single Employer Plans Employers Entered Consolidated Plan: Overfunded = Surplus / Payroll Credits Underfunded = Deficit / Payroll Debits No IRS Determination Regarding Treatment

IUUAL Surplus Balances Why Refund Now? Decreasing Number of Accounts 99 Accounts as of February, 2015 IRS Determination No Co-mingling with Qualified Assets GASB Impact ER Specific Liabilities Schedules of ER Allocations

IUUAL Surplus Balances Next Steps Early Distributions through June Continues Additional Communication Final Payroll Credits for June 2015 Payroll Report Posting of all Accounting Transactions for June Refund all Remaining Funds in July 2015

Employer Self Service

Employer Self Service ESS Desktop Specifications are changing Windows XP – no longer supported IE versions prior to version 9.0 – no longer supported Firefox – at least v. 35 is allowed Adobe Reader X and higher – change from Adobe Reader XI and higher Rates Changing – effective 7/1/2015 PLD – Employee and Employer Teacher – Employer “Normal Cost” & Grant Funded Rate

Employer Reporting Working Group Thank you Employer Reporting Working Group