November 2019 Cybersecurity, TRSL, and you School systems in Louisiana and across the country were targeted by cybercriminals this past summer in ransomware attacks where school data was held hostage or destroyed unless ransom was received. Hackers recognized that many school districts house a wealth of student and employee information often with limited technology resources to fend off intruders. As your agency works to remain vigilant in the increasingly complex world of cybersecurity, don’t forget that TRSL can be your partner in safeguarding retirement data for your employees. By keeping your records up-to-date with TRSL, we can provide your certified member information back to you in the event your agency suffers a cyberattack and your own data is not recoverable. That’s why we strongly recommend that you certify your agency’s outstanding questionable years and submit all sick leave records on a yearly basis. Annual employer certifications are critical for TRSL to maintain reliable member records and accurately calculate member retirement benefits—and they can help you recover from unforseen data losses, such as the recent cyberattacks. Save yourself and your employees undue hardship… don’t leave something so important to chance. We want to help! Our Employer Services Department is available for on-site training to assist you with the retrieval, review, and completion of outstanding questionable years and sick leave records.Request on-site training and assistance today! Contact Sharon Lachney, (225-925-4097) or Heather Landry (225-925-7093). Monitor your agency's TRSL account balance Your agency has a TRSL account for each of its retirement plans (Regular Plan, Plan A, and Plan B). These accounts reflect all charges and credits made when contribution reports, monthly contribution corrections, prior year salary corrections, payments, and various invoices are applied. It is important to review each account every month to ensure charges, payments, and any adjustments are correctly posted, and to avoid interest charges for outstanding balances not paid by the due date. EMIS screens to review for account activity: Employer Contribution Charges Employer Contribution Accounts Receivable Employer Payments Please see Index 4.0 of TRSL’s Employer Procedures Manual for more information about how to read the three screens. ORP news: Accessing retirement funds after leaving the U.S. If you have ORP employees who are considering retiring outside of the United States, it’s important for them to consider the tax implications of this situation as well as the ability to transfer funds internationally. Some may need to establish a U.S. banking relationship before leaving the country in order to access their retirement funds once abroad. Remind your ORP employees to contact their ORP provider to discuss their specific plans and circumstances. RTW facts: Let's talk contracts and corporate contracts Sometimes there’s confusion about what employers and retirees can and can’t do under the state’s return-to-work (RTW) law—especially when it comes to contracts and corporate contracts. Here are a few facts about this issue: Fact: The RTW law applies to both direct employment and employment by contract or corporate contract. Fact: Retirees may be subject to the RTW law when they (1) enter into an independent contract with a TRSL-covered employer; or (2) are employed by a separate entity to perform services for a TRSL-covered employer (employment by corporate contract). Fact: RTW retirees will be classified as “retired teachers” or “retired members” and subject to a 12- or 36-month waiting period as well as any applicable earnings limit or benefit suspension. More helpful info: To help you identify contract and corporate contract employment situations, take a look at these examples: Retirees employed through an LLC to perform TRSL-eligible duties; Retirees who are employed through a temporary staffing agency to perform TRSL-eligible duties; Retirees who are employed by a private entity and paid for TRSL-eligible duties which help to fulfill a contract between the private entity and a public school board. For more information, refer to the Employer Procedures Manual: Index 15.0 or contact our RTW specialist Jessica Trosclair at (225) 925-3663 Employers Services turns 5! The Employer Services Department is celebrating 5 years of serving TRSL’s employers! Employer Services sends a huge thanks to all of our reporting agencies and looks forward to helping you with all of your business needs.

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