RETIREMENT SERVICES DIVISION MEMORANDUM 2016-04

October 7, 2016

TO THE HEADS OF ALL STATE AGENCIES

I. GENERAL INFORMATION

On or about October 14, 2016, Personal Statements of Benefits for Tier I, Tier II, Tier IIA, Tier III and Hybrid Plan State Employees Retirement System (SERS) members were mailed directly to members who were actively employed as of June 30, 2016 at the addresses on file with the Retirement Services Division (Division) as of that date.

The statements contain retirement and other State employee benefit information as of June 30, 2016. Contributions and awarded interest balances will be reflected for all contributory SERS members.

The member's primary agency address is printed as the return address; therefore, any undeliverable statements will be returned to the agency, to the attention of the human resources office. Returned statements for members whose mailing address is incorrect, incomplete, or missing should be given directly to each member and agencies should update the address in Core-CT to resolve any address discrepancies. Statements for members who have transferred from your agency should be forwarded to the new agency. Statements for members who have left state service should be accumulated and then sent to the Division's Customer Service Center at the address on this letterhead along with a memorandum that provides the name of each terminated member, their termination date and the reason for their termination.

With respect to SERS members who report that they did not receive a Personal Statement of Benefits, please accumulate their names and forward them with identifying employee numbers to the Customer Service Center at the address on this letterhead or by email to osc.rsd@ct.gov.  Please note: employees first hired on or after June 15, 2016 or who transferred retirement plan membership from the Alternate Retirement Plan to the Hybrid Plan will not receive a 2016 Personal Statement of Benefits.

The Personal Statement of Benefits continue to provide employees with their personalized State Employees Retirement System (SERS) benefit information in a concise, easy- to- read manner and encourages use of the retirement information available at any time to employees and state agencies on the Office of the State Comptroller's (OSC) website at osc.ct.gov.

We encourage you and your staff to visit the website for general information concerning retirement benefits as well as health, dental benefits and other miscellaneous employee benefits. Employees should also be encouraged to access information concerning these benefits on the OSC website.

II. SPECIFIC BENEFIT STATEMENT INFORMATION

• YOUR ESTIMATED BENEFITS AT RETIREMENT

This section of the statement provides contributory employees with their current balance of contributions and interest as of July 1, 2016.
General information on vesting, retirement age and service at normal retirement and early retirement is provided; more information concerning a member's benefit payment options at retirement is available on the OSC website.

This section also provides employees with an illustration of the monthly benefit to which they may be entitled at normal retirement age based on information obtained from the State Employees Retirement Data Base (SEDB) and using assumptions described on the statement such as: the member was continuously employed on a full-time basis from the employment date shown on the statement through June 30, 2016, the member is married and the member's spouse is the sole contingent annuitant and is the same age as they are, the member will receive the benefit at normal retirement age. The benefit illustrations reflect calculations based on an employee's estimated service credit through June 30, 2016 only and estimated average annual salary based on their salary as of June 2016. Consequently, no benefit illustration will be available for employees with estimated service of less than the amount of service required for a vested benefit. Where appropriate the benefit illustrations comply with the limitations in employee compensation and benefits required under the Internal Revenue Code.

The benefit payment option estimates are for illustrative purposes only; these amounts do not portray actual benefits. Additional service credit, breaks in service, leaves without pay, and part-time service are not incorporated in these illustrations and will affect the actual benefit amount a member will be eligible to receive at the time of retirement. In most cases, so will the age at which the member retires and the age of their spouse or other contingent annuitant.

Again, employees should be encouraged to review the additional retirement information on SERS benefits available on the OSC website. The site provides Tier I, Tier II, Tier IIA, Tier III and Hybrid Plan Summary Plan Descriptions (SPDs) as well as the online retirement counseling workshops and benefit estimators.

General information regarding group life insurance and medical and dental benefits at retirement are also provided in this section.

Agency human resources staff should contact the Division's Customer Service Center by telephone at 860-702-3480 or by email to osc.rsd@ct.gov  if there are questions concerning an employee's contributions and interest, employment date or average annual salary amount reflected on the statement.

• ADDITIONAL SERVICE CREDIT

Miscellaneous service credit purchased or otherwise obtained by SERS members as reflected on SEDB records is provided in this section. Please note that this section does not reflect purchases in progress nor does it reflect prior Connecticut State service for which non-contributory Tier II members may receive retirement credit provided there is no permanent break in service.

Members are advised to contact their Human Resources Office or the Retirement Services Division's Counseling Services Unit if they have questions concerning additional service credit. Agency human resources staff should contact the Division's Purchasing Unit at 860-702-3511 for assistance in resolving any additional service credit issues for retirement plan members.

• YOUR DISABILITY BENEFITS

This section provides general information regarding benefits available to SERS members should they become disabled.

Members are advised to contact the Division's Counseling Unit directly or through their employing agency as soon as possible should they become seriously ill, injured or have a life threatening illness to ensure receipt of any benefits for which they may be eligible. Agency human resources staff should contact the Counseling Unit if they have questions regarding an employee's eligibility for disability retirement benefits. Information on disability benefits from SERS may also be obtained from the Tier I, Tier II, Tier IIA, Tier III and Hybrid Plan Summary Plan Descriptions available on the OSC website.
Agency human resources staff may contact the Healthcare Policy & Benefit Services Division's Group Life Insurance Unit at 860-702-3537 for assistance on questions regarding State Group Life Insurance coverage.

• YOUR SURVIVORS' BENEFITS

General information regarding those retirement, life insurance and medical and dental benefits which may be available to members' survivors under plan provisions is provided in this section as well as the amount of group life insurance for participating members and the total amount of retirement plan contributions and interest for contributory SERS members.

Agency human resources staff may contact the Healthcare Policy & Benefit Services Division's Group Life Insurance Unit at 860-702-3537 for assistance on questions regarding State Group Life Insurance coverage.

• EMPLOYEES' PERSONAL INFORMATION

Employees' personal information is extracted from the State Employees Retirement Data Base. To further safeguard members' personal information, members' social security numbers are no longer printed on the statement.

Please remember that all requests to change or correct personalized information for active members must be initiated and processed at the agency level.

To correct the following SEDB errors, the information outlined below must be submitted to the Customer Service Center for processing.

• Employee number incorrect - send a notification of the correct number by memo or by email at osc.rsd@ct.gov. 
• Date of birth incorrect - submit a copy of the employee's birth certificate attached to a copy of the employee's latest Form CO-931.
• Retirement plan beneficiaries incorrect, missing or require change - submit a CO-931 form.
• Employing agency incorrect - notify by memo or by email at osc.rsd@ct.gov  specifying name of former agency, date and reason for separation and name of current agency, reemployment or transfer date and provide a copy of the Form CO-931 completed at the time of reemployment or transfer.
• Employee name or address incorrect - to resolve discrepancies, agencies should properly update the employee?s record in Core-CT.

For the correction or change of State Group Life Insurance beneficiaries, agency human resources or payroll staff may contact the Healthcare Policy & Benefit Services Division's Group Life Insurance Unit at 860-702-3537 for assistance. Employee questions regarding the State Group Life Insurance coverage should be addressed by agency staff. Employees who wish to make group life beneficiary changes must see their agency human resources or payroll officer for the appropriate Core-CT Enrollment Statement. Once the employee completes and returns the Core-CT Enrollment Statement, the agency must data enter the information in the Core-CT system and forward the Core-CT Enrollment Statement to the Employee Group Life Insurance Unit.

III. CONCLUSION

Any questions you have concerning this memorandum or the 2016 Personal Statement of Benefits may be directed to the Customer Service Center at 860-702-3480 or by email to osc.rsd@ct.gov.

Very truly yours,
STATE EMPLOYEES RETIREMENT COMMISSION
KEVIN LEMBO, SECRETARY EX OFFICIO

BY:

Brenda K. Halpin, Director
Retirement Services Division

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