Members annual statement
APERS Annual Member Statements have been mailed to all members who had activity in any one of the following months: April, May or June 2011 and whose service credit total is great than zero (0). The statements were revised for the first time in several years, and they reveal a significant amount more information than the prior statements. If you have any questions about your statement, please contact APERS and we will be glad to assist you. Questions regarding your demographic data should be directed to the Call Center while questions regarding your service should be directed to the Counseling Section. If you haven’t received your statement by November 1, 2011, you may request a duplicate statements by contacting our Call Center or by completing the request form that will be available on the website by that date. We will also have available a form available to use if you wish to make corrections to information found on the statement, such as misspellings, incorrect dates, etc. The form can be found here or on the Forms page (coming soon!). ------------GENERAL INFORMATION-----------------Members who get their annual statements this year will notice they look much different than past ones. APERS has redesigned the annual statements to provide members with more useful information, and make it easier to understand. Another plus of the newly designed statements is it has all the information you need to go online and generate your own benefit estimates! The front of the new form consists of four main sections: • Activity for 7/01/2010 to 6/30/2011. This section lists your service and contributions on file at the start of the year. The section also lists current year service and contributions, purchased service, and the sum total of all service and contributions by the end of the Fiscal Year. |
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• Summary as of 6/30/11. The Summary table on the form shows your Final Average Salary (FAS). Your FAS is the sum of your three highest fiscal year earnings divided by three. This number is important as the FAS is used to calculate a benefit. You can use the FAS to calculate a benefit using the Benefit Calculator at www.apers.org, or by calculating your benefit manually. Other information includes total service and contributions on record for the member as of June 30th of the year the statement is issued. • Benefit Service. This section will list service you have accrued in the Contributory Plan, the Non - Contributory Plan and the New Contributory Plan. The service will be listed as years and months for various time periods. The service is listed in this fashion in order to reflect how the benefit service information needs to be placed in the benefit calculator in order to do a benefit estimate. The online calculator benefit service area looks just like this. APERS can generate a benefit estimate for you. All benefit estimate requests must be submitted in writing. Please use the Benefit Estimate Request found on the APERS website or contact APERS and we will be glad to mail you the form. APERS encourages you to use the online benefit calculator to generate your own benefit estimate. |