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Thread: Accepting Demographic and Payment Changes

  1. #1
    P2F2 Member
    Join Date
    Jan 2011
    Location
    Minnesota
    Posts
    181

    Accepting Demographic and Payment Changes

    Under what methods do you accept demographic and payment changes, including ACH change, address changes, and tax election change?

    • Online;
    • Phone;
    • Mail/Written

    If mail or written requests are accepted, are they required to be on a certain form? Are handwritten requests processed?



    STEPHEN TEPNER, CPA
    Indiana Public Retirement System
    Senior Financial Analyst
    One North Capitol, Suite 001
    Indianapolis, IN 46204
    (317) 234-6613
    Stepner@inprs.in.gov

  2. #2
    P2F2 Member
    Join Date
    Jan 2011
    Location
    Minnesota
    Posts
    181
    Hi Stephen,

    In response to your P2F2 question regarding demographic and payment changes, please see below on how CERF currently handles these:

    For active members, address changes must be submitted to CERF by the County, or the information must be submitted via the Member Self Service (MSS) Portal. For Retirees/Beneficiary Recipients, demographic information and marital status via is updated telephone call (our telephone lines are recorded so we can verify this information at a later date if necessary), written request, or submission via the MSS Portal. Tax changes must be submitted via the MSS Portal or by submitting a W4-P or MO W-4P. ACH changes must be submitted via an updated Electronic Funds Transform form. The financial institution must complete a portion of the form. The form must include the signature of all persons listed on the account. A voided check must accompany checking account information or written confirmation with account number, routing number, and names of people on the account on the financial institution letterhead for savings accounts or if a check is not available. If there is a question or further verification is needed, the financial institution is called.

    Thanks.

    Kelly M. Schwartze, CPA
    Deputy Director
    County Employees’ Retirement Fund
    2121 Schotthill Woods Drive
    Jefferson City, MO 65101
    (573) 632-9203, Ext. 4112

  3. #3
    P2F2 Member
    Join Date
    Jan 2011
    Location
    Minnesota
    Posts
    181
    Good Morning,

    In response to your inquiry below…

    LASERS accepts demographic and tax changes through either fax, email, mail, or online. For demographic and tax changes, our retirees have the ability to go online to our Member Self-Service portal by entering their user name and password to make the change. Our retirees can also fax, email, or mail a completed form or write a letter with their signature for demographic changes or complete a W4-P for tax changes. We do not accept written letters for tax changes.

    Our retirees cannot make ACH changes online. They can either fax, email, or mail a completed form or a written letter with their signature for ACH changes.


    The majority of demographic changes for our active members is sent by our agencies via file to a secured FTP site where we retrieve it and upload to our system. It’s not an automatic upload. We upload the file to our test database to make sure there are no errors, before we manually take the file and move it to a folder that uploads it to our production database. Our active members also have the ability to change it online by logging into our Member Self-Service portal by using their username and password. The other option for active members is to fax, mail, or email a form or written letter requesting the change.

    Please let me know if you have any further questions.

    Thanks


    Casey Pitcher-Jackson
    Accountant Manager II
    225.922.0187 (o)
    Email: cjackson@lasersonline.org

  4. #4
    P2F2 Member
    Join Date
    Jan 2011
    Location
    Minnesota
    Posts
    181
    We accept changes to address, phone number and email address through the secure online account, by phone or in writing. We accept direct deposit and tax withholding changes through the secure online account or in writing on our forms. Handwritten requests may or may not be accepted, it would depend if the member provided all of the necessary information to identify themselves and all of the details needed to process the change are included. (We don’t get these often.)

    We have not had the case where our systems have been hacked. However we have faced situations where the member’s data was obtained from some other source and used to gain access to their account. We are planning to enable two-factor authentication for our online portal in the coming months to mitigate this risk.

    Lynn A. Hoover, CPA | Controller
    STRS Ohio
    275 East Broad Street, Columbus, Ohio 43215
    Office: (614) 227-2843 | Fax: (614) 744-3326
    HooverL@strsoh.org

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