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DA Memo - April 6, 2006

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New Member Annual Statements (2005)

We are in the process of printing member annual statements for 2005 and expect to begin mailing them by mid-April.

We will enclose each member’s statement in an individual 9x12 window envelope, along with an annual statement guide. This packaging method provides confidentiality for members and hopefully makes statement distribution easier for you.

What You Need to Do
When your shipment arrives, please distribute statements to employees. Encourage them to check that their beneficiary is current, and that their personal information is correct.

For your future reference, you can request an MS Excel spreadsheet with employee annual statement information.
The information in the electronic file is not formatted to look like the actual statements, but all the necessary information is included. Please contact Lorie Conklin at lconklin@kpers.org or (888) 275-3757.

If You Are a New Designated Agent
Each spring, KPERS provides members an updated annual statement of their account. Statements are sent through employers because we do not maintain home addresses for members.

In addition to the statements, we have developed an annual statement guide. This guide helps explain the statement and highlights general benefit information. The statements themselves show a member’s contributions, earned interest and beneficiary information. Members with at least ten years of service credit will also have retirement benefit estimates.

A Big Thank You
Thank you for distributing this important member information. Annual statements are a tool to help members plan for their future and are especially helpful to those nearing retirement.

As always, if you have any questions, please don’t hesitate to contact the KPERS InfoLine.