PMRS continues to modernize and streamline its processing and accounting systems. Our intent is to create a more efficient and seamless transaction between our agency and the employers and members we serve.
Employers who opt-in to electronic payments will initiate ACH or Wire Transfer with their bank. Appropriate forms like the PMRB-20, PMRB-21, PMRB-1, or PMRB-2 will still need to accompany the payment and be sent to PMRS.
Taking advantage of ACH and Wire Transfer are optional for municipalities. PMRS will continue to process paper checks.
Benefits of ACH:
- Accessibility – Employers will have electronic access to the status of the check 24 hours a day, 7 days a week.
- Efficiency – ACH will save processing times and allow staff to focus time on other important tasks.
- Security – ACH is a secure transfer of funds from bank to bank.
If you have any questions, please contact our Investment & Financial Management Division.