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Reminder: The Annual Salary Verification Process is Coming in August

Jul 17, 2024, 07:31 AM by MOSERS

Each August, MOSERS asks our employers to help verify employee salaries to ensure that basic life insurance coverage amounts are accurate.

MOSERS will release the Annual Salary Verification Report in mid-August. Once the report is ready for your review, we will send a notice (including instructions). Employers must complete all salary verifications by September 5.

The report is essential to ensure that covered employees receive the correct basic life insurance coverage each year.

Eligible employees receive one times their annual salary in basic life insurance coverage. The amount of coverage adjusts each January according to the employee's annual earnings in effect on July 31 of the previous year (or the employee's first day of coverage if not covered on July 31).

  • Annual earnings include normal earnings from a benefit-eligible position, including shift differential, security differential, and retention pay.
  • Overtime pay and other irregular payments are excluded from annual earnings.
  • If an employee works simultaneously in both a benefit-eligible and non-benefit-eligible position, only pay from the benefit-eligible position is included in annual earnings.

If you have questions about the annual salary verification process, please email employers@mosers.org. You can also watch the Life Insurance Verification tutorial on how to work the report.

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