Pennsylvania Code › Title 22 - EDUCATION › Part XIII - Public School Employes' Retirement Board › Chapter 215 - GENERAL ADMINISTRATION › GENERAL PROVISIONS › Section 215.2 - Administrative duties of the Board

Current through Register Vol. 54, No. 28, July 13, 2024
(a) The Board will furnish, to the extent
				  required by Federal law, information to members concerning those provisions of
				  the Internal Revenue Code which may impose a tax liability upon a member or
				  beneficiary. The sole responsibility for the tax liability, including the tax
				  computation, is imposed upon the member and not the Board and the member should
				  consult tax counsel or legal counsel for advice in these matters since the
				  Board is not qualified or required to offer advice.
(b) Under section 8502(g) of the Retirement
				  Code (relating to administrative duties of board), an employer failing to
				  comply with procedures as mandated in the Retirement Code dealing with duties
				  imposed upon employers, shall pay for the cost of performing these duties, if
				  the Board initiates action to perform the duties on behalf of the employer not
				  doing so. If an employer is delinquent in the payment of contributions in
				  accordance with section 8327 of the Retirement Code (relating to payments by
				  employers), the Board will notify the Secretary of Education and the State
				  Treasurer of the delinquency for the action as those officials are required to
				  take hereunder, consistent with the billing and delinquency requirements in §
										213.27(a)
				  (relating to payments by employers).
(c) Regulations adopted and promulgated for
				  the uniform administration of the System shall be subject to prior approval by
				  the actuary with respect to all computational procedures used in the
				  calculation of contributions, benefits and related matters.
(d) The Board will, each year, in addition to
				  its itemized budget, which is submitted through the Governor's Office for
				  General Assembly approval, also certify to the employers and the Commonwealth
				  that percentage of total member's payroll necessary for the funding of
				  prospective annuities for active members and the rates and amounts of normal
				  accrued liability and supplemental contributions to be paid to the Fund, which
				  actuarial certification will be regarded as final after Board approval. It is
				  not subject to modification by the Budget Secretary or any other Commonwealth
				  official.
(e) The Board will, in
				  compliance with the percentage certifications in subsection (e), determine
				  within 30 days following the end of each quarter the amount due based thereon,
				  taking into consideration the member's total payroll and shall submit
				  simultaneously therewith a requisition for the amount determined to be due from
				  the Commonwealth.
(f) The Board
				  will credit to the account of each member all amounts paid by the member into
				  the fund, including the member's contributions for current service, payroll
				  deductions for the purchase of service as otherwise provided in this part or
				  lump sum payments for the purchase of service. A person or governmental
				  employer may not make payments on behalf of the member unless authorized by the
				  Retirement Code or this part. Member contributions shall be credited with
				  statutory interest until the date of termination of service, except in the case
				  of the vestee. In that event, statutory interest shall be credited until the
				  effective date of retirement or until a return of the accumulated deductions,
				  if the member so elects. In the case of a multiple service member, interest
				  shall be credited to the member's accounts in each system until a termination
				  of State and school service.
(g)
Retirement Code reference
: Section 8502 of the Retirement
				  Code.