Wage
and Contribution Reports
Each
agency covered by PERS must submit to the System a Wage
and Contribution Report pertaining to all covered employees
for each calendar month. This should begin with the first
month the coverage is effective and continue until an
agency files a final report with the termination of coverage.
The monthly wage report listing the covered wages paid
to the member during the previous month must be forwarded
to PERS by the fifth working day of the month. As per
Regulation 14, the due date for the retirement reports
for the PERS, MHSPRS, and SLRP plans is the fifth working
day of the month for the previous month. Reports which
are not received from employers when due shall accrue
interest at an annual rate of 2 percent of covered wages.
By mandate of the Board of Directors, PERS member agencies
are to submit the monthly retirement report electronically
via the internet or via mail on diskette. An application
system, RET, is provided for this purpose.
Contributions
By mandate of the Board of Directors, PERS member agencies are to submit
the monthly retirement contributions by electronic funds transfer (EFT).
Each agency using electronic funds transfer must complete an Authorization
Agreement for Pre-Arranged Payments (PERS
Form 8P). This form can be obtained from PERS either by mail or PERS web
site. Upon receipt of the completed form, PERS will assign location
and security numbers to the agency. That information will be forwarded
to the PERS depository bank to establish an EFT account. When the bank
confirms the account, PERS will provide the agency with telephone transfer
instructions. As per Regulation 14, the due date for the retirement contributions
for the PERS, MHSPRS, and SLRP plans is by 2:00 p.m. on the fifth working
day of the month. Contributions which are not received from employers
when due shall accrue interest at an annual rate of 10 percent.
The correct employee contributions must be collected by the agency by
deducting the amount of contributions from the employee's covered wages.
The employer's share of the contributions should be paid in accordance
with wages paid to the employees. Employee contributions withheld from
wages have been tax deferred since July 1, 1982.
RET
RET 6.0 is the current version. It was developed and is being distributed
via the internet and CD by the Public Employees Retirement System of
Mississippi MIS staff. Installation instructions and RET user's manual
are included with this distribution.
RET
6.0 is an application to be used by individuals responsible
for creating and transmitting retirement contributions
to the Mississippi Public Employees’ Retirement
System. RET allows users to: Modify
their last month’s payroll data to create the
current month’s wage and contribution report
or import their payroll/reporting data from an
external source.
Provide
password security for the reporting information
Validate
the reporting data
Send
file information electronically via internet or via
mail on diskette.
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