November 2023
Employer Rate to Decrease for the Sixth Consecutive Year
TRSL’s latest annual valuation report is out with some really positive news for employers. For the sixth year in a row, the employer contribution rate is projected to decrease.
This decrease is especially significant because the projection includes a new component. Beginning July 1, 2024, the total employer contribution rate will include a PBI account funding rate (AFC rate) that will directly fund retirees’ cost-of-living increases.
Previously, employers were indirectly paying for permanent benefit increases (PBIs) through the shared unfunded accrued liability (UAL) payment. With employer contributions declining, legislators approved a new funding model to capture a portion of the decreases to fund PBIs in a more clear, direct and transparent way that will also allow retirees to receive cost-of-living increases on a more regular basis.
Even with the addition to the employer contribution rate, there is a significant drop in the percentage of payroll that employers pay for covered employees.
For FY 2024-25, the projected contribution rate for K-12 Regular Plan employers (as well as Lunch Plans A & B) is 21.51%, down from 24.1%. For higher education Regular Plan employers, the projected rate is 20.88%, a decrease from 23.30%.
The FY 2024-25 contribution rate will become official upon adoption of TRSL’s FY 2023 actuarial valuation report by Public Retirement Systems’ Actuarial Committee (PRSAC), which usually meets in December. Employers will receive notification from TRSL once the FY 2024-25 contribution rates become official.
You can find the entire annual valuation report online at www.TRSL.org.
Start spreading the news: Member Statements are available online
Annual member statements recently posted to Member Access. We need your help to spread the news that these important retirement roadmaps are available online.
Here's what we need you to do: You may have already received (or you will soon receive) an email message from TRSL's Director, Katherine Whitney, that we hope you'll share with your employees.
Member statements are chock full of information tailored to each individual member, including how much service credit they have; who their beneficiaries are; and their projected retirement date if they have at least five years of service.
To see their statements, members just have to log into or create a Member Access account. For anyone who’s unsure about how to sign up for Member Access, this flyer outlines the steps.
Heads up: Actuarial fee increase
We’ve let members know that there will be an increase in the actuarial calculation fee needed for purchases of service credit beginning Jan. 1, 2024. The fee for a single calculation will increase from $150 to $200. Each additional calculation will still cost $50.
The increase from $150 to $200 will also apply to employer-submitted corrections greater than three years old that increase service credit.
Forms will be updated to reflect the increase. Any questions can be directed TRSL’s way. 
Save the date: 2024 employer training is around the corner!
Mark your calendars! Our annual employer training will be held in March, and we have two ways for you to participate. You can attend virtually or in person.
More details, including registration information, will be announced in January.
For now, here are the dates for your calendar:
  • Tuesday, March 12: K-12 and Charter Schools
  • Wednesday, March 13: Higher Education
  • Thursday, March 14: State Agencies
Get help from a TRSL Specialist
You don’t have to wait until annual training to get help. TRSL’s Employer Service training specialists, Sharon Lachney and Heather Landry, are available virtually via Zoom or in person for an on-site visit.
Here’s the type of help they provide:
  • Employer Training: Request online training via Zoom or an on-site visit. We can customize a comprehensive training program or focus only on specific topics you request. 
     
  • Data Research Visit: Get help researching questionable years and/or sick leave data for previous fiscal years. This type of visit is best done on-site. That way, our training specialists can review your agency’s paper and electronic records to help clear outstanding questionable years and/or sick leave data. 

Interested? Contact them today!
Attention Higher Ed Employers
New hires who are unclassified employees but are not eligible for membership in TRSL because of part-time, seasonal, or temporary employment can elect to participate in the Optional Retirement Plan (ORP), Social Security, or Deferred Comp (if offered or applicable).
Here's what you – and the employee – need to know:
  • If an employee chooses the ORP over other available options and later becomes full-time with your agency, the ORP election is irrevocable and the employee will never be allowed to join TRSL’s Regular Defined Benefit Plan.
Resources to help you:
  • Have questions about determining enrollment eligibility for employees who are part-time, seasonal, temporary, or determining if they fall under secondary employment? Contact your agency's assigned Accountant Liaison.

  • For a reference guide on this issue, please refer to Indexes 2 and 16 of the Employer Procedures Manual. For retirees who you consider part-time, seasonal, or temporary, please refer to Index 15. 
The skinny on sick leave
With a new calendar year approaching, you’ll soon be busy working on retirement applications for the end of the school year. And, sick leave is an important part of the retirement process.
We’ve put together FAQs on sick leave to help avoid delays in finalizing members’ retirement benefits.
Q. What is your role in sick leave?
A. Employers certify and submit the sick leave information used to compute and convert members’ unused sick leave to service credit for benefit computation purposes in accordance with La. R.S. 11:752. Information provided by employers includes sick leave days used, months of contract and number of summer school days worked for each fiscal year (July 1-June 30).

Q. What is a common reporting mistake?
A. Some employers think they need to report a member’s sick leave balance. What you actually need to report are the sick leave days used for each year.

Q. Is sick leave interchangeable with Paid Time Off (PTO)?
A. No. Some agencies, such as charter schools, provide Paid Time Off (PTO) to their employees in lieu of sick leave days. Sick leave credit cannot be given for years when a member earns PTO days instead of sick leave days. Employers who grant PTO should not report any sick leave days used information to TRSL.

Q. How often should employers report sick leave information?
A. Annually after the close of each fiscal year.

Q. How do I certify sick leave?
A. You have three options: (1) manual entry through EMIS, (2) an annual direct upload in EMIS of a sick leave data file or (3) File Transfer Protocol (FTP) submission of a sick leave data file.

Q. How is sick leave calculated?
A. In accordance with La. R.S. 11:752, TRSL calculates the sick leave balance based on the months of contract for each employment year. The number of days used, as reported by the employer, is then subtracted from the sick leave balance that was calculated in accordance with the law.

Q. What happens if I’m tardy in reporting sick leave?
A. Late submissions can cause delays in finalizing a retirement benefit and/or can result in sick leave being excluded from the member’s benefit calculation. These delays may require a member’s retirement benefit to be adjusted after it’s finalized.

Q. BONUS QUESTION: How do I handle sick leave pools?
A. Your agency may allow employees to donate their sick leave to a pool that can be used by other employees. This donated sick leave must be reported to TRSL. For employees donating the sick leave, it’s reported as sick leave days used in the fiscal year it was donated. For employees using the donated sick leave, it’s reported as sick leave days used when it’s used.
 
Learn more: Employer Procedures Manual, Index 17 is your complete guide to sick leave.
Meet our staff
Cue the drum roll! We’re unveiling a brand new section of The Key and shining a spotlight on our talented Employer Services Department (ESD) employees. Each issue, we’ll showcase their accomplishments and favorite parts of the job. Meet the people who work with you and for you every day.
This month, we’re spotlighting one of our training specialists!
Heather Landry
→ Tenure at TRSL: 20.5 years.
→ Tenure with the Employer Services Department (ESD): This November will mark 9 years.
→ Job duties: I train TRSL employers on their reporting duties in EMIS, and I work with employers to research and assist in the completion of Questionable Years and Sick Leave Certification.
→ Heather’s favorite part of the job: I enjoy meeting the staff of our reporting employers and developing a rapport with them. It is interesting to see the functions the employers go through to perform their jobs. Each one is unique in the way they think and do things.
→ A fun fact about Heather: I love to travel, even though sometimes it can be draining. I have had family members tell me I need to become a travel agent due to my itineraries.
PO Box 94123
Baton Rouge, LA | 70804 US
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