VMERS DC 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 Defined Contribution plan allows employees and willing employers to contribute and invest in funds over a period to save for retirement.

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

Menu Path

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

Submission Period

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

The district can choose to run the report bi-weekly or based on every single pay.

Selection Rule

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

Prerequisite

Set up deductions on the Deduction Table page.

Setup

Retirement Deductions

Before generating the VMERS DC Retirement report, enter valid information on the VT VMERS DC 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, Reporting Month, and Reporting Period.

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.

The Reporting Period indicates which bi-weekly period the district is reporting during the month.

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, Reporting Month, and Reporting Period.

3. Under File Format, select PDF or Excel.

4. 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.

5. Select Create, then Yes.

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

7. Inspect the file. Update data if needed.

8. 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, Reporting Month, and Reporting Period.

3. Select Submit.

4. Select Yes, then OK.