Notification Period for Employee Updates and Changes

Do you have a new employee beginning employment, or do you need to change an existing benefit for your employee(s)?

We know that oftentimes you may be juggling numerous tasks in your day-to-day activities. But timely reporting of your employee new hires or benefit changes is an important part of ensuring the Pension Boards maintains accurate records for you and your employees, while also ensuring these changes are reflected accurately on your monthly invoice.

Any changes to your employee's benefits, including Medical, Dental, Vision, Flexible Spending Account (FSA), Life Insurance and Disability Income Benefits Plan, and pension contributions through the Lifetime Retirement Income Plan, must be reported to the Pension Boards within five (5) business days of the following month that the change is effective. Any change requests received after will be processed with a current effective date.

Example:

You have an employee that is terminating their Medical Coverage effective 10/31/2024.

The Pension Boards is notified by November 5, 2024.

• Medical Plan coverage is terminated effective October 31, 2024.
• November premium is refunded (if already paid)

The Pension Boards is notified by November 18, 2024.

• Medical Plan coverage is terminated effective November 30, 2024.

By following this simple timeline, both you and employees will benefit from making sure their accounts are kept current and monthly invoices accurate. Consider adding a helpful monthly reminder to your online calendar. Let us know how we can help.