Retirement Badge #05: New Hire and Employee Notification-Retirement Badge #05

Video Transcription

Video Summary

Rochelle Gaines presents WASBO Retirement Badge Series #5 on New Hire and Employee Notification, focusing on eligibility, member history, and reporting. She explains that retirement eligibility depends on position classification. For classified staff (PERS/CSRS), a position must be expected to require at least 70 hours per month for at least five months in each of two consecutive years. For certificated staff (TERS), eligibility requires 70+ hours per month for at least five months within a school year. She highlights the DRS Position Eligibility Worksheet (recommended, not required) and notes employers can also verify eligibility and member status in AERA.<br /><br />All individuals paid through payroll should complete a retirement status verification process, and districts must retain verification records for 60 years. New hires with no DRS history have 90 days (starting the day after the start date, including weekends/holidays) to choose Plan 2 or Plan 3; if they do not choose, they default to Plan 2. Plan choices are irrevocable. Returning Plan 3 members have a 90-day window to select a contribution rate (default 5%); contributions aren’t withheld during the decision period and aren’t required to be made up.<br /><br />The session emphasizes employer responsibility for accurate enrollment, tracking deadlines, consistent employee notifications (often via templates), and documentation, supported by DRS videos, FAQs, and employer trainings.

Keywords

WASBO Retirement Badge Series #5

New hire retirement enrollment

Employee notification requirements

DRS position eligibility (70 hours rule)

PERS CSRS classified staff eligibility

TERS certificated staff eligibility

Plan 2 vs Plan 3 90-day election window

AERA member status verification