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. As of August 29, 2017, the error has been corrected and all contributions are now posting correctly to VOYA.
This error had no impact on member account balances or investment earnings or losses as PERS did receive IAP contributions from employers.
Effect on retirement and withdrawal applications
Members who applied for a May or June retirement or applied for a withdrawal during this time, may see a delay in their IAP distribution. PERS is notifying this population and working to complete the backlog of distributions in the most efficient manner.