System fixed - new plan default goes into effect

We have implemented a system fix for the View Election Status page on the Employer Reporting website. Now, when employees default, they will correctly appear on the list of New Members Who Have Made Their Election. All employees who were previously missing due to a system error will now be included on the New Members Who Have Made Their Election list.

In addition, PA 250 of 2023 takes effect today, July 1, 2024. As we explained in an earlier email, the new law changes default retirement plan for new members. New employees whose first day worked is on or after today (July 1) and who do not choose a plan within their 75-day election window will automatically become a member of Pension Plus 2. 

For new employees reported on a DTL2 for the first time on your next few reports, ORS will contact you to verify the employee's first day worked. The verification allows us to determine the appropriate default plan for each new member and enter it into the system. In addition, DTL2 records for new hires will suspend for 100 days during this transition period, to allow ORS time to determine and enter the appropriate default plan. 

You can avoid the 100-day suspension of these records by encouraging new employees to make a plan election.

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