FROM: Amy McInerny, Chief Financial Officer
SUBJECT: Update to the Employer Reporting Initiative - Standardized Data Reporting Platform
RECOMMENDATION:
title
Update to the Employer Reporting Initiative - Standardized Data Reporting Platform.
body
BACKGROUND:
The Employer Reporting Initiative focuses on a Standardized Data Reporting Platform and its complete implementation. The initiative has been part of the Triennial Strategic Plan and has been in development for four years. The primary goal of this initiative is to decrease risk to SBCERA and increase the service level to our members.
Principles of the initiative to create a standardized framework:
• Completeness - we will require employers to report all their employees, not just those who are enrolled in SBCERA. This will create easier reconciliation to employer payroll reports and facilitate employer audits.
• Timeliness - employers will be required to submit timely reports and payments. Updated employer agreements will create an accountability plan that could lead to fines if reports and payments are not submitted timely.
• Accuracy - new reporting format will provide our employers with required fields, validation points, and a guide for employers with step-by-step instructions and troubleshooting advice.
A training plan is in place to provide training to our employers to ensure a successful implementation of the initiative. We intend to offer our employers many options to prevent any barriers to success.
• Live group training in-person at SBCERA and online
• In person training with employers at their site
• On-demand recorded trainings
• Individual training with employers at SBCERA
The general timeline for carrying out the remainder of this initiative is dependent upon some outstanding deliverables on the technology side. Once the remaining items are received, we will extensively test them in house. Once that has been achieved, we will roll out the framework to our employers. We will offer a sandbox environment for testing and training with the expectation that employers will have a mandatory go-live date one year later.
BUDGET IMPACT:
Costs for this item are included in the current year administrative budget.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Effective Communications
STAFF CONTACT:
Amy McInerny
ATTACHMENTS:
None.