2 AAC 36.021 - Employers to supply employment records
(a) The employer
shall transmit to the administrator records concerning an employee's period of
service, date of birth, compensation, entrance into service, death, withdrawal
and other data necessary for the proper and effective operation of the system
not later than 10 days of the date of occurrence or the first day of the
payroll period occurring closest to the event, whichever is earlier.
(b) The administrator may perform an audit,
review or assessment of the records of the employer to ensure compliance with
the statutes and regulations of the public employees' retirement system and to
confirm the accuracy of the information reported by the employer to the
plan.
(c) An audit, review or
assessment of the employer records to determine an employer's compliance with
the plan provisions shall include a desk audit, a field audit or
both.
(d) In conducting an audit,
review or assessment of the employer records, the employer shall allow the
administrator or administrator's designee access to original records
documenting personnel hiring and employment practices.
(e) Following the audit, review or assessment
of the employer records, the employer will be provided with written preliminary
findings. The preliminary findings will identify inaccuracies and issues to be
resolved to maintain compliance with plan provisions. Not later than 30 days of
the date of the receipt of the preliminary findings the employer shall submit
additional documentation for consideration or to respond to the preliminary
findings.
(f) The final audit will
include audit or review findings and will be provided to the employer not later
than 60 days after consideration of any documentation or response submitted
under ( e) of this section.
(g) In
this section, unless the context otherwise requires,
(1) "audit" means the process of obtaining
competent evidentiary material about employer records through inspection,
observation, inquiry, and confirmation sufficient to support a reasonable basis
for determining the employer's compliance with the legal requirements of the
teachers' retirement system.
(2)
"desk audit" means an audit of an employer's records conducted by the
administrator or designee based upon an examination of an employer's records
without an onsite visit to the location of the employer's business
records;
(3) "field audit" means an
audit of an employer conducted by the administrator or designee based upon an
examination of an employer's records with an on-site visit to the location of
the employer's business records.
Notes
Authority:AS 14.25.003
AS 14.25.004
AS 14.25.005
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.