IAP Contribution Posting Error
Individual Account Program (IAP) contributions submitted
to PERS by employers are posted to VOYA, PERS’ third-party administrator, once
employers have paid the invoices tied to those contributions.
However, between June 15, 2017, and August 29, 2017, a
technical error prevented IAP contributions from posting. This prevented PERS
from invoicing for Prior Year Earnings (PYE) for contributions paid during that
This error had no impact on member account balances or
investment earnings or losses as PERS did receive IAP contributions from
As of August 29, 2017, the error has been corrected and
all contributions are now posting correctly to VOYA. PERS resumed capturing
data for PYE invoicing on September 6, 2017.
September 14, 2017, PERS deployed a system fix to capture PYE on contributions
paid in June, July, and August 2017. As a result, October 20, 2017 statements
will include the delayed invoicing that was not included in previous
statements. The PYE invoicing will be available to view in your un-billed
activity area on October 6, 2017.