This edition of ER Update covers end-of-the-year reminders for all funds, our retiree benefit calendar, and more!
End-of-Year Reminders for All Funds
2025 Contribution Rates
- New rates are being brought into the new year. To view the 2025 Employer Contribution Rate information, click here.
- Reminder to TRF Employers that the new ER Share Rate of 6.5% will go into effect on Jan. 1, 2025, not on July 1 as it has been.
Last Day in Pay (LDIP) vs. Last Check Date
When you are terminating your employees, please keep the following in mind:
- The last day in pay (LDIP) is the last day worked in a covered position.
- The last check date (LCD) is the last reported payroll date in the system.
These accounts must be correctly entered into the system to ensure that the member can take a distribution or submit for retirement when eligible. If you have any questions, please contact the Employer Advocate team at (888) 876-2707.
2025 Retiree Benefit Payment Calendar
Keep this year’s payment calendar on hand for important reminders and payment date differences for your retiring employees. In general, TRF benefits are paid on the 1st of the month while PERF benefits are paid on the 15th of the month. If the 1st or 15th falls on a weekend, the payment will be mailed on the prior business day. If your retirees choose to receive payments via direct deposit, the deposit is made on the same day as the payable date.
For retirees choosing to receive checks via mail, the payments will be mailed out before the payment date but are not guaranteed to arrive by that date. To update payment preferences to direct deposit, retirees need to log on to their account at myINPRSretirement.org. If you have questions, please call (844) GO-INPRS.
INPRS Closure Dates:
- Wednesday, Dec. 25th
- Thursday, Dec. 26th
- Wednesday, Jan. 1, 2025
- Monday, Jan. 20, 2025
End of Year Reminders for 1977 Fund
Certified Salary:
Certified salary for police and firefighters is due on Jan. 31, 2025. This is the second year using the new certified salary process. As a reminder, you as an employer are responsible for entering the certified salary directly into the ERM System. Only contacts designated as the following may do so:
- Authorized Agent – City Controllers
- Authorized Agent – City Clerk-Treasurer
- Authorized Agent – Trustees
For detailed instructions on how to enter your certified salary, review our Quick Reference Guide here.
Pension Relief:
- Pension Relief submissions will begin on Jan. 2, 2025. Start preparing your files now.
- Note: There will be new data validations this year. Please be on the lookout for additional details and instructions coming in the near future.
New Baseline Applications Coming January 2025
A new version of the baseline application is in process and will be available in January 2025. Stay tuned for updates and details in future newsletters.
Looking Forward:
Jan. 2025:
- Pension Relief begins 1/2/2025.
- Certified Salary is due 1/31/2025.
Feb. 2025:
Pension Relief is due 2/2/2025.
March 2025:
Submit your alternate calendars for spring break vacations!