STRS Ohio Update for Reporting Employers
STRS Ohio Employer News
Ohio Deferred Compensation Offers a Retirement Savings Opportunity for Employees
In Ohio, employers can offer additional savings plans so employees can invest extra money for retirement through payroll contributions — which will then supplement their pension benefit once they retire. Two commonly offered pretax plans are the 403(b) plan, which is offered by private vendors, and the 457(b) Governmental Plan, which is managed by Ohio Deferred Compensation (Ohio DC). STRS Ohio members are eligible to contribute to both plans, so you can offer a 403(b) plan and an Ohio DC plan to employees.
Fees and investment objectives can vary widely between vendors managing 403(b) plans, but Ohio DC is a nonprofit organization that only offers the 457(b) plan mandated by state law to be available to all eligible employees. Due to their large size, Ohio DC is able to offer competitive fees and expenses on investments, which can make a big difference to a member’s account over time. There are also no commissions or sales charges when working with an Ohio DC representative.
One benefit of an Ohio DC plan is the lack of a penalty for early withdrawal. If a member has left employment, he or she can take a withdrawal at any age. Ohio DC also offers flexible rollover options, the opportunity to save more as retirement nears with a “catch-up” option, and Ohio-based account representatives and retirement planning specialists who can assist with questions about Ohio DC and determining retirement income needs.
STRS Ohio members can learn more about supplemental retirement plans on the member website. On the Supplemental Savings page, members can find a helpful video, a brochure and general information about different plans. For more details about Ohio DC, visit www.ohio457.org.
Employer Website Enhancements
We made a few enhancements to the STRS Ohio Employer Website to improve readability and navigation. Improvements to the home page include:
- A new menu at the top of the page with a visible search bar for quicker searching, a link to STRS Ohio contact information and a link to information about registering for ESS access.
- Increased text size of the menu options to enhance readability.
- A login button labeled “ESS” that takes you to the new ESS login page.
- A larger image to announce upcoming events and timely topics.
- Links to the Employer Reporting section are featured under Employer Reporting in the menu at the top of the page. Hover your mouse over Employer Reporting to view an expanded list of topics.
Employment Verifications Due by End of Year
To comply with Internal Revenue Service regulations, STRS Ohio is required annually to identify members who have reached the age of 72 and are not actively employed in an STRS Ohio-covered position. As required by law, members meeting these criteria must withdraw their accounts or begin receiving a required minimum distribution as part of a monthly annuity.
Employers may receive a request from STRS Ohio before the end of the year to complete employment verifications to confirm identified individuals are no longer working. STRS Ohio needs your assistance in providing final contributions and pay date information.
In an effort to reduce paper and complete the process in a timely and efficient manner, please complete this verification online in ESS. The Employment Verification Report tutorial in the Education & Training section of the employer website is available to assist you. Step-by-step instructions including screenshots are also available in the ESS Instructions.
Thank You for Your Hard Work!
STRS Ohio processed more than 3,000 retirements between June 1 and Aug. 1, which was a 20 percent increase from last summer’s retirement numbers. STRS Ohio received retirement reports from employers for more than 93% of these retirements, and over 87% of the reports submitted were completed by the first week of August.
The submission of retirement reports allows STRS Ohio to finalize members’ retirements in a timely manner. Thank you for your hard work in helping us ensure our members receive their first benefit payment check as quickly as possible!
Webinar and Tutorial Libraries Available Online
The Employer Education team has offered a wide variety of topics and training sessions via webinar over the past year as part of the Employer Basics 101 and Higher Education Essentials series, as well as ESS Training. Every live webinar has been recorded and uploaded to the employer website. If you were unable to attend a session or would like to revisit a topic, be sure to check out the library of recorded webinars in the Education & Training section.
Need a quick refresher on how to complete a report in ESS? Short tutorial videos give step-by-step instructions on ESS processes, such as setting up a direct debit account, making a backposting adjustment, submitting your pay date calendar and more. You can access our collection of ESS tutorials on the employer website.
Reporting Requirements
Secure File Upload Requirements
The secure file upload page on the employer website provides a safe way to send protected information such as Social Security numbers, dates of birth or earnings to STRS Ohio. PDF files and electronic data files formatted in the correct record layout are both accepted via secure file upload, but there are specific technical requirements that need to be followed when preparing these files for upload.
Annual reports, payroll reports, new hire and reemployed retiree notifications, backposting adjustments and monthly ARP contribution reports (colleges and universities only) must be submitted as electronic data files. For these files, please use the corresponding record layout provided on the employer website on the secure file upload page and under Publications in the Resources menu at the top of the home page.
STRS Ohio accepts PDF files for the following items: SSA-1945 forms for new hires, salary schedules, direct debit authorizations, TPO Contribution Certifications and ARP election forms (colleges and universities only).
When naming your data file or PDF to be uploaded, keep in mind that the secure file upload tool only accepts file names containing one period that is followed by a “pdf” or “txt” file extension (e.g. .pdf or .txt). PDF files must be exactly 8.5” x 11” in portrait orientation. Files should not be encrypted, and the maximum file size is 15 MB. Following these specific requirements when sending your files ensures successful transmission of the information to STRS Ohio and keeps protected information safe.
Updates to Payment Remittance Forms
As of this fiscal year, STRS Ohio no longer accepts checks for member and employer contributions. Due to this change, remittance forms that accompany employer payments have been updated. If you are making an ACH or wire payment, complete the online ACH and Wire Remittance form on the employer website.
There is also a paper Check Remittance form (formerly known as a Cash Remittance form) available if you send STRS Ohio a check for a miscellaneous payment such as a foundation shortage or payment of an invoice. Remember that checks cannot be used for member and employer contribution payments.
The payment remittance forms allow STRS Ohio to apply payments accurately and in a timely manner to both employer and member accounts. You can find these forms under Payment Remittance in the banner menu of the employer website home page.
GASB Report Information Available in ESS
The following information is now available in ESS to assist you and your auditors in preparing financial statements in accordance with GASB 68 standards:
- GASB 68 Contributions by Member
- GASB 68 Contributions by Payroll
To access the information, log in to ESS and click on “GASB Reports” in the Additional Tools menu. If you have questions about these documents, please contact the Employer Reporting Department toll-free at 888‑535‑4050 or email [email protected].
Employer Detail Listings Are Coming Soon
Employer Detail Listings for fiscal year 2020–2021 will be sent to employers between Oct. 18 and Dec. 15, 2021. This document contains the final amount of member contributions and service credit that STRS Ohio has posted to each individual member’s account for the fiscal year. It is considered a final record so please keep a copy for your files. An electronic copy can be found in the Documents section of ESS.
Please review your Employer Detail Listing for accuracy. If corrections or adjustments should be made, please contact STRS Ohio Employer Reporting toll-free at 888‑535‑4050 as soon as possible.
Employer Education
Upcoming Education Opportunities
STRS Ohio offers webinars and training sessions to help you meet STRS Ohio reporting requirements. Currently, all education opportunities are being held virtually. The Employer Education team will announce the 2022 calendar of events soon. You will receive an email from STRS Ohio when registration is available. A selection of upcoming education opportunities is listed below. View the Calendar of Events for a complete list of programs.
ESS Training
Part 1: Wednesday, Nov. 10, 10 a.m.
Part 2: Tuesday, Nov. 16, 10 a.m.
Would you like to feel more comfortable using ESS? Our training is now available virtually! Join us for two different free 60-minute webinars as we cover the most frequently asked questions about navigating and completing reports in ESS. We will offer live demonstrations of the applications within ESS and share helpful tips, information and resources. We recommend attending both sessions. Register now.
Quarterly Coffee Break
Wednesday, Dec. 8, 10 a.m.
We understand your time is valuable. Attend a short webinar break to catch up on current STRS Ohio employer news. Coffee Break webinars are designed to share information you need to know when you need to know it. These 15–20 minute webinars are presented quarterly and include an opportunity for you to ask questions. Registration begins Nov. 29.
What’s Ahead
View a complete list of annual processes and due dates.
December 2021
Employment verifications are due (if applicable).
Dec. 15
Employer Detail Listing mailing is complete.
January 2022
STRS Ohio’s Annual Comprehensive Financial Report is available.
February 2022
Request for salary schedules is emailed to employers.
April 2022
Foundation employers receive 2022–2023 estimated annual payroll request.