July 2014 ERS and MetLife teamed up to promote financial literacy among state employees - Goals: Increased Savings and Better Retirement Outcomes Four Part Interactive Retirewise Workshops Session 1: Building the Foundation Session 2: Creating and Managing Wealth Session 3: Establishing Your Retirement Income Stream Session 4: Making the Most of What You Have Kicked Off with HR Community 8/6- 8/28 So far – Workshops have been held at ERS, SAO, Court of Appeals, and Georgia Forestry Commission – Over 150 employees have attended

Interested in the workshops for your agency? Need some help getting the word out? Retirewise Overview Video (In Development) ?&r3f1https:// ?&r3f1= Contact me: when you are ready to schedule these informative workshops for your

Accurate and Complete Enrollment of New Hires and Rehires – very important Renewed and Specialized Emphasis Due to GASB 67 and 68 New Standards require plans and employers to have adequate controls in place to ensure all eligible employees are enrolled and that significant census data is accurate Name, DOB, Salary, Plan, eligibility date, termination date, etc.

Effective 03/2014 – Monthly employers with missing enrollments have been receiving a missing enrollment file – employees that we have found with pay in PeopleSoft with no plan enrollment We need your help/response each month to ensure these employees get enrolled In addition to the Audit ramifications, also costly and time consuming to correct – especially GSEPS Employers can be responsible ($) EE contributions, ER Match, and Rate of Return

Act 663 became effective on July 1, 2014 Increased the automatic 401(k) contribution rate for newly eligible GSEPS members from 1% of salary to 5% of salary Allows employees to take full advantage of the maximum employer matching contributions

How are we doing? Overall – 75%

At our last HR Community meeting (67%) of July Hires were missing enrollments Vastly improved – And we’ll get even better – on to 100% Keep up the good work

Online Forfeited Leave – In production since June 2013 Since Go – Live 1,371 forfeited leave transactions processed ($16.5M) Upcoming enhancements: Auto final certification (45 days) No manual processing

How are we doing?

As highlighted in our Fall Employer Newsletter – ERS is making plans to offer Employer Reporting Training In our offices & Webinars When: March , 2015 Topics Covered: Overview of the Reporting Process via Employer Desktop Full Enrollment and Reporting Retroactive Adjustments What is an Invoice, and How do I allocate? Forfeited Leave Processing Rehired Retiree Reporting Reporting to Georgia Breeze

 ERS account Access:   Ga Breeze website:   Peach State Reserves 

Angie Surface, Director PSR Carlton W. Lenoir, CFO