VMERS DB Retirement Report

Vermont Municipal Employees Retirement System (VMERS) is the public pension plan provided by the State of Vermont for participating municipalities' employees.

The system includes two plans:

• Defined Benefit (DB) Plan

• Defined Contribution (DC) Plan

The DB plan, also known as a traditional pension plan, provides the employee with a specified and guaranteed payment after retirement.

To report hours worked, you must load Affordable Care Act (ACA) Hours Tracking before loading data for the VMERS DB Retirement report.

Menu Path

Select Human Resources from the main navigation menu, then select State. Select VMERS DB Retirement Report.

Submission Period

The VMERS DB Retirement report is due on the 5th state business day after the pay period in which the wages are paid. The report is due on:

• Quarter 1 (7/1-9/30): Due by October 15

• Quarter 2 (10/1-12/31): Due by January 15

• Quarter 3 (1/1-3/31): Due by April 15

• Quarter 4 (4/1-6/30): Due by July 15

Selection Rule

Employees who are eligible for VMERS DB Retirement are selected and reported.

Prerequisite

Set up deductions on the Deduction Table page.

Setup

Retirement Deductions

Before generating the VMERS DB Retirement report, enter valid information on the VT VMERS DB Retirement Report - Setup - Retirement Deductions page.

1. Select Setup, then Retirement Deductions.

2. Filter records using the filter criteria. To enter filter criteria, select an option from the list, enter a keyword or select an option in the following field, and select Add. The filter is added.

3. To add a new record, select Add Record. Enter valid information in the required fields. Select Save, then Yes.

4. To edit a record, select the ellipsis in the Actions column and select Edit.

5. To delete a record, select the ellipsis in the Actions column and select Delete. Select Yes.

Load Data

1. Select Load.

2. Select the Reporting Year and Reporting Quarter.

3. Select Load, then Yes.

4. Save the report, then select OK.

5. Navigate to the folder containing the summary report file.

6. Inspect the file. Update data if needed.

7. Repeat these steps until all data is loaded.

Data is loaded based on Reporting Year and Reporting Quarter. Data is then extracted from the check history for the date range entered in the Check Issue Start Date and Check Issue End Date fields. The dates must not overlap from quarter to quarter.

Maintain Data

You can correct loaded data before submitting the report. However, any corrections to application information must also be updated in the source data.

1. On the VT VMERS DB Retirement Report page, filter records by the appropriate criteria. To enter filter criteria, select an option from the list, enter a keyword or select an option in the following field, and select Add. The filter is added.

2. Add or manage records as needed:

   • To add a record, select Add Record. Enter valid information. Select Save, then Yes.

   • To edit or delete a record, select the ellipsis in the Actions column, and select the appropriate option.

Create File

1. Select Report.

2. Select the Reporting Year and Reporting Quarter.

3. Under File Format, select PDF or Excel.

4. Under Report Sort, select Sort by Last Name or Sort by Retirement Group.

5. If you have the necessary permission to display the entire Social Security number (without masking) and want to include the entire Social Security number, then select Print Full Social Security Number.

6. Select Create, then Yes.

7. Save the report and navigate to the folder containing the file.

8. Inspect the file. Update data if needed.

9. Repeat these steps until all data is included.

Follow the state's submission procedures.

Purge Data

You can purge the data for the report in the following scenarios:

• You want to discard the data for the report.

• You want to change the setup or employee data and reload the data.

1. Select Purge.

2. Select the Reporting Year and Reporting Quarter.

3. Select Submit.

4. Select Yes, then OK.