Section 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.Effective 7/20/2006, Register 179; am 1/13/2010, Register 193; am 1/31/2017, Register 221, April 2017Authority:AS 14.25.003
AS 14.25.004
AS 14.25.005