for Employers of Maine Public Employees Retirement System January 2009 DIRECT BILLING FOR MAINEPERS GROUP LIFE INSURANCE IN 2010 MainePERS Group Life Insurance will shift to prospective billing in January, 2010. MainePE#R#S## w# i2l0l 0b7ill employers in advance for premiums due. Look for details in March edition of Employer Update. GROUP LIFE INSURANCE AND LEAVES OF ABSENCE When an employee with MainePERS group life The employee is responsible for making timely insurance goes on an unpaid leave of absence, premium payments while on leave even if part, or notify the Survivor Services unit at MainePERS of all, of their premiums are usually paid by the the leave using a ”Transfer in” or Personnel Status employer. If the employee chooses not to pay the Change Form (MM-0001) or Human Resource premiums, coverage will cease. MainePERS cannot Profile (HRP) to MainePERS. This will alert the honor a claim if coverage is not in effect. Survivor Services Unit to bill the employee for group life insurance premiums. 2009 MAINESTART CONTRIBUTION LIMITS The Internal Revenue Service announced the cost- increasing from $15,500 to $16,500. Individuals of-living adjustments applicable to contribution age 50 or over in the 2009 calendar year may limits for retirement plans for the 2009 Tax contribute an additional $5500. For more Year. The maximum amount an individual may information about this plan please contact a defer into a 401(a) or 457 Plan(s) for 2009 is MaineSTART representative. PARTICIPATING LOCAL DISTRICT UPDATE The System extends a warm welcome to new and returning Participating Local District (PLD) employers and their employees. Bowdoinham Water District and the Thompson Free Library are the newest employers to join the PLD Consolidated Plan. Returning to MainePERS is the Town of Wilton. If you are an employer who participates in our MaineSTART Defined Contribution plan, or is considering enrolling, and would like an on-site presentation, please e-mail us at [email protected] or contact a MaineSTART representative. MAINEPERS ANNUAL REPORT MainePERS’ The MainePERS Comprehensive Annual Financial Report Teacher Unit (CAFR) for the fiscal year ending June 30, 2008 is available. wants to thank The Report contains the financial transactions of the you for your cooperation and assistance retirement system for the fiscal year, the assets and during this, and every, “teacher retirement liabilities of the retirement system at the end of the fiscal season.” With your support, more than 500 year, and the actuary’s report on the actuarial valuation teacher members retired at the end of the of the retirement system for the fiscal year. Current and 2007/2008 school year. We appreciate all that past editions of the CAFR are always available via the you do all year round. Publications section at www.mainepers.org. Page 1 Employer Update (January 2009) ACCOUNTS PAYABLE APPLICATION FOR MEMBERSHIP REMINDER NOW ONLINE Employers will find the latest MainePERS Membership Employers, please make sure your Application on the Employer Section of MainePERS website: remittances are made payable to www.mainepers.org. Click on Employer, Employer’s Home, MainePERS or Forms and you will see the Application for Membership form Maine Public (CL-0102) for State, Teacher, Judicial and Legislative and a Employees distinct form (CL-0102P) for Participating Local District Retirement membership. This is a form that can be completed online but System. must be printed, signed and submitted to MainePERS. 2009 EMPLOYER TRAINING SCHEDULE MainePERS offers training for Teacher and PLD To register for one of our Wednesday training payroll personnel at our office in Augusta. Both sessions, contact the Employer Services Unit at the full and half-day trainings cover membership, (207) 512-3200, or toll-free at 1-800-451-9800, or retirement, forms and reporting requirements. you may register on-line at mainepers.org/ The full-day training also includes an overview Employers . Full-day trainings are from 8:30am– of MainePERS Disability, Group Life Insurance, 3:00pm and half-day trainings are from 8:30am– Survivor Benefits and Deferred Compensation 12:30pm. programs. Teacher and School Support Employers Participating Local District Employers Half Day Training Half Day Training March 18, 2009 February 18, 2009 May 20, 2009 April 22, 2009 July 22, 2009 June 17, 2009 September 16, 2009 August 19, 2009 November 18, 2009 October 21, 2009 Full Day Training Full Day Training February 11, 2009 March 11, 2009 April 15, 2009 May 13, 2009 June 10, 2009 July 15, 2009 August 12, 2009 September 9, 2009 October 14, 2009 November 12, 2009* *Note: Thursday date due to holiday MAINEPERS ON-SITE PRESENTATIONS The new year is always a good time for employees to review their retirement planning. If you would like to schedule a meeting at your location, please contact the State, Teacher or PLD Unit at 1-800-451-9800 or by e-mail. Page 2