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Limits on Transfers and Refunds
To comply with IRS requirements for qualified pension plans, TRS must limit the transfers made between contribution types and is not able to refund any overages. Reporting Employers will need to use the overage in a contribution account as a credit …
Penalty Interest
When TEXNET is transmitted after the due date, penalty interest is due to TRS. Penalty Interest accrues daily on the TEXNET dollar amount that is submitted through TEXNET after the due date. The penalty interest rate is 10% APY on the overdue balance. …
Penalty Fees
Penalty Fees accrue for each business day the report is not at a “Complete” status after the due date. The penalty fee is based on the number of TRS eligible members reported on the May report for the previous school year. The late fee is not to exceed …
Due Dates for Report and TEXNET Deposit
The Regular Payroll report and TEXNET deposit associated with that report are due by the 6th of the month following the close of the calendar month for which the reports are prepared. TEXNET deposits must be transmitted via TEXNET no later than 8 p.m. …
One-Time Pay Increases in lieu of Increases in Contract Rates
For one-time pay increases to be TRS-eligible compensation, the pay must be for service rendered and the right to receive it must accrue proportionately as the employee renders service. For example, if the Board of Trustees approves a one-time payment …
This Versus That: Health Care Edition
The Pulse , May 2023 Edition When it comes to your TRS-ActiveCare plan, you have many options. It starts with choosing either a high deductible plan or physician-directed plan during annual enrollment. Once you enroll in your plan and need to go to the …
Actuarial Valuation Report Archived Editions
Actuarial Valuation Updates Results of TRS Valuation Update as of 2/28/13 Actuarial Valuation Reports 2015 Actuarial Valuation Report for the TRS-Care Fund 2015 Actuarial Valuation Report for the Pension Fund 2014 Actuarial Valuation Report …
Legislative Materials
The Government Affairs department monitors state legislation that may affect the Teacher Retirement System of Texas. The department provides information to legislators, government officials, and other stakeholders. For bill text, fiscal notes, actuarial …