(1) Employers may correct reporting errors affecting defined benefit retirement system members on subsequent pay period reports via a letter of explanation. The explanation must include all salary and service documentation for the reported error and the affected time period.
(2) After MPERA verifies that an error has been made in the contributions paid and the service reported, MPERA shall:
(a) notify the reporting agency of any contributions and interest due;
(b) credit any excess employer and member contributions to the employer on MPERA's payroll records; and
(c) adjust the member's membership service and service credit to the correct amount.
(3) MPERA may waive interest if delinquent contributions are made within 60 days of the original due date.
(4) The board may reduce interest due on delinquent contributions if the reporting error was not timely identified by MPERA staff.
(5) Corrections reducing a defined benefit retirement system member's contribution cannot be accepted if the employee has received a refund.
(6) If the service related to the reporting error was initially reported to the wrong retirement system, MPERA shall:
(a) transfer the correct amount of employer and employee contributions from the original retirement system to the correct retirement system;
(b) credit the employer with any excess employer and employee contributions or collect from the employer and pay to the original retirement system any additional employer and employee contributions; and
(c) transfer the member's service credit and membership service to the correct retirement system.
(7) The employer must correct its payroll records and pay the refund to the DBRP participant.